R.Linda Trading - forecast

BTCUSD → Consolidation after the rally. What's next?

CRYPTO forecast
💡 Ideas For BTCUSD 🪙

📈 BTCUSD → Consolidation after the rally. What's next?


BTCUSD is in the uptrend phase, actively and quite confidently holding back all negative news. The price is forming a retest of 43250, realizing price consolidation above the 50-day moving average
The market continues to form an uptrend since the formation of the bottom in the market. At the moment we see the formation of a sideways range 44500 - 40225, which at the moment plays the role of consolidation. Short and long squeezes, shakes relative to the range boundaries indicate a phase of strong accumulation of potential before further movement in one or another direction. Based on the technical and fundamental component, the market seems to be preparing to continue its growth.

The area of 42000 is technically important for the market in the medium and long term, as evidenced by the 2-month sawing (consolidation) of this area, which divides the market plane into two areas (bearish and bullish), but as we see the price is trying to strengthen above this area to form a strong support area before further growth.
Fundamentally, BTC is quite a strong asset:

• GBTC outflows continue but in much smaller volume, net inflows into ETFs are higher than outflows.

• A new problem in the US, which can play into the hands of BTC, is the situation in the US banking sector, the topic again concerns bankruptcies.

In March 2023, the Fed started printing in response to problems in the banking sector, and BTC was perceived as a safe haven. Accordingly, the restart of the Fed's printer will increase interest in BTC, which may favorably affect the crypto asset's capitalization.

Support levels: 42000, 40222, 38500

Resistance levels: 43250, 44500

The trend is bullish, technically the asset is quite strong - this conclusion can be made based on the strong consolidation after the rally. The market is starting to prepare for halving, against this background, the price may test the support zone before further growth. But, based on the overall data, in the medium and long term, the growth of the crypto asset may continue.