BTC-provision for bullish continuation, signs of consololidation

To remain bullish, BTC/USD should ideally close above 71460 on the weekly chart. If it cant, that suggests consolidation at actual levels and between a range of about 73800 and 60.000, until we break that very range significantly to the up OR downside. The strong retracement today, is no god news for bulls imo and increases the chance of a consolidation further.

This is no financial advise! Do not risk real money on any idea published by us.

Kommentar:

BTC/USD is still captured in the mentioned range between 73.800 and 60.000. However, it recently took out a daily low and the bodies respected the potential support level of 60.000. The next likely draw now are the relative equal highs above 71500. If BTC breaks out of the range substancially, it could have another significant rally backed by the recent halfing event.

This is no financial advise! Do not risk real money on any idea published by us.