#BTC Good morning everyone, how are you all doing?
Another important point for us to analyze concerns the volume: we are at that moment where bitcoin seems to be "cooking" the next move. After a very strong leg from the region of $ 60 thousand to break the $ 100 thousand dollars, now the price is consolidating just above $ 103 thousand.
This type of lateral behavior, with small candles and lower volume, is typical of a market breath after a strong rise. What we need to observe now is whether this movement will be just a pause before another leg up or if we are facing a possible exhaustion.
Notice that the price is lateralizing close to the maximum of the move, which is a positive sign. Unlike when it rises and quickly gives everything back, here the market is accepting the new price level, which indicates buyer strength still present.
The volume has decreased in recent days, which reinforces the idea of consolidation. And as long as it holds the current level without strongly losing the $ 100 thousand, we remain in a positive structure. A new explosion upwards can happen at any moment, especially if a significant buying volume comes in breaking the $ 105 thousand.
What the market is doing now is deciding whether to break strongly or to correct down to lower support regions. Therefore, total attention on this current range and patience.
What is your opinion?