The consolidation range occurs when the market trades sideways, in a neutral position. This sideways trading is neither bearish nor bullish, thus neutral. Downward or upward trends can only be determined based on the broader market structure. If the consolidation range develops as a result of a significant decline, it can be said that the market is bearish, and the consolidation is bearish even if a bullish breakout occurs. Once it happens bullishly, we can say that a reversal has occurred, but the trends remained bearish. If the consolidation range develops as a result of a significant rise, it can be easily said, considering its validity, that the market is bullish, and the consolidation phase is bullish, given the larger market structure, past price movements, and the chart. Bitcoin is experiencing consolidation with bullish trends, but there is a boundary we call resistance, and another we call support, which is the trading range. When the market is in a price range, the losses of margin traders are greater because the trend remains hidden, and profit-taking tends to occur when the market is in a clear direction. Whenever the upper boundary is breached, a pullback and support testing occur. And whenever the lower boundary is tested, prices recover and rise again. This process repeats as long as necessary to shake out all the weak hands, as most signals are just noise. This is the situation we find Bitcoin in today. Very bullish but sideways, and anything is possible in the short term. Do not short Bitcoin at 20X. You may end up making quick and easy profits.
With its breakout, Bitcoin's price will soon reach its all-time high at
Update on Bitcoin's plan after non-farm payroll data Important news about Bitcoin: The price of Bitcoin (BTC) rose to $109,000 on Wednesday, as the US trade agreement with Vietnam and the increase in the global money supply (M2) contributed to an increase in open interest (OI), reaching 689.78 thousand Bitcoins, valued at nearly $75 billion. The cryptocurrency market price rose overall alongside Bitcoin's price, as leading altcoins Ethereum (ETH), Ripple (XRP), and Solana (SOL) increased by 7%, 3%, and 4% respectively. The price of Bitcoin, the cryptocurrency market, rose thanks to the trade agreement with Vietnam and the increase in money supply (M2). The cryptocurrency market price rose on Wednesday by 2%, regaining its market value of $3.5 trillion. From a technical analysis perspective first, we congratulate investors who followed the plan, as we previously traded according to the model, received a sell signal at 108 thousand, made a profit, and then a buy trade at 106 thousand. Currently, Bitcoin's price is going through the fifth wave, stuck in the Fibonacci area (golden ratio 2.618) around the price of 109 thousand, which is also a price threshold for investors under pressure before the price reaches 112 thousand. The area of 112 thousand is a psychological profit area, and selling will appear at 109 thousand before Bitcoin's price rises further in the last six months of the year.
#TrumpTariffs #DayTradingStrategy #HODLTradingStrategy #MuskAmericaParty #OneBigBeautifulBill