Bitcoin: The Secret Trend Line No One Notices.
Bitcoin (BTCUSD) faced severe selling pressure yesterday, even the one-day time frame turned slightly bearish. But what most people seem to ignore is the bigger picture on the one-day time frame; Bitcoin managed to close the last five weeks above the pivot trend line.
What is this trend line? It is the level that started as resistance from December 9, 2024, to January 27, 2025, closing all one-week candles that fell below it, despite wicks occasionally breaking above it. This confirmed its status as resistance at that time.
Now we see the opposite, five consecutive one-week candles closing above the pivot line. Notice specifically how stable the closing of the last two weekly candles is, showing not only the high volatility the market has experienced in recent weeks but also the same number of sellers and buyers present in the market (neutral). This is an indication that this is a consolidation phase, preparing Bitcoin for the upcoming rise. If we place the highest level in the Fibonacci (10) on this pivot $BTC