#BitcoinBounceBack Exactly, you’ve nailed the key technical points! The consolidation in the support/resistance (S/R) zone is critical. Here’s a breakdown of what could happen:

Breakout above resistance: If Bitcoin manages to break above the $84,000 level, it could trigger a bullish momentum, potentially targeting the next resistance level or higher. This would likely attract more buyers and could lead to a rally.

Rejection at resistance: If the price gets rejected at $84,000, it could signify strong selling pressure, which may push the price back down toward the lower end of the consolidation range, around $78,599. This would keep the price in a sideways trend.

Breakdown below support: A breakdown below $78,599 would likely indicate a bearish trend, as it would suggest that sellers are gaining control. This could lead to a move toward the next support zone, and if that support doesn't hold, further downside could follow.

Rejection at support: If Bitcoin gets rejected at the $78,599 support level, it would suggest that buyers are still present, preventing a further downside. This would likely keep Bitcoin in a consolidation phase, with no clear direction yet.

It all depends on the price action at these critical levels. Are you watching any specific indicators (like RSI, MACD, etc.) to confirm a potential breakout or breakdown?