BITCOIN → Testing trend resistance. Will there be a breakout?
BTCUSDT is approaching trend resistance and most likely it may test the liquidity zone and risk zone for sellers (liquidity hunt ?), but does the market have the potential to support the upside?
Bitcoin is strengthening and channel resistance may not stop this growth. Based on the nature of price movement (smooth, gradual, consolidating), bitcoin may test liquidity 84.7K - 88.8K. But it is too early to talk about further growth
The price on W1 is trading in a trading range (consolidation) between the current support and the global consolidation support that was broken earlier. Short bodies, long shadows speak about consolidation. Also worth noting are the relatively long tails to the downside and the weak market reaction...
From the very beginning of this year, the growth of the cryptocurrency market (community as a whole) can be attributed to Trump's 90-day technical break; however, there are a number of nuances: - the fire has not yet been put out
- just because they gave a 90-day break doesn't mean everything is fine. It's just a head start for the U.S. to prepare for the situation more thoroughly
Investors are looking for less risky assets like gold due to the intensifying conflict between the United States and China. Cryptocurrencies are definitely not on that list.
- Rumors of a US interest rate cut are likely to provide support as well.
Resistance levels: 84700, 88800
Levels of support: 78200, 73-74, and 66500 I would not hurry with conclusions about further growth. Growth could be considered if bitcoin overcomes 88800 and consolidates above this zone. But a sharp approach or a false breakout of one of the mentioned liquidity zones may provoke a reversal and fall.
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