BITCOIN → Consolidation after rally characterizes the uptrend ↑

RLinda Updated   
BTCUSD updates the high to 53K and goes into consolidation. A flat 52500 - 50500 is formed after a strong rally, which is a strong enough signal of a confident market.

Interest in the asset continues to grow and on the back of distribution, the price updates the December 2021 high after exiting the consolidation in early February. Both technically and fundamentally, the BTC is doing quite confidently. The next milestone, which is very important for the market, is the halving, which is expected in early April. There is a high probability that the price may test strong support zones before the halving, but there are no clear technical signals for this yet.

At the moment the price is in consolidation between 52525 and 50649. Another support retest in the form of a false breakout is formed and the price is consolidating again. There are still no clear reasons for a support breakout. It is necessary to continue watching the price on H1.
Regarding the current situation, I would single out two possible scenarios for buying.

Scenario 1. High chance of realization.
A pullback from the support is formed. Now it is important to wait for resistance retest. Slow price approach to the level and formation of compression or pre-breakout consolidation relative to 52545 will be a strong signal for the breakout.

Scenario 2.
As consolidation is forming, the market maker may extend the range from the current range to the support: 48435.
The price should not go below 48K as this level is a strong support area. A breakout of 50649 and 50333 could fororimize an impulse (liquidation) to the lower level, which could be a range support. But a retest or false breakout will form an increase in liquidity, which will give the opportunity to form an impulse with the aim of breaking through the resistance 52545 and realize further growth.

Resistance levels: 52545
Support levels: 50649 & 50333

While the consolidation stage is forming, the market maker can use any opportunities to accumulate liquidity. It can be a false breakout, shakeouts or liquidation in order to reach deeper levels. The important thing is to wait for the right reaction, which will be a prerequisite for a breakout or false breakdown that will give the opportunity to open a trade at the best price.


Regards R. Linda!
Buyers continue to hold the 51k level.
Each new retest increases the chance of a breakout
A rebound is forming.
The market is not ready to break the support yet, consolidation continues.
We are waiting for resistance retest and market reaction after 52500 retest
Tether continues to print billions in coins, they previously did so at strong levels before further growth
Trade active
Trade closed: target reached:
Interim target achieved
Price in the distribution phase
55800 reached
Trade closed: target reached:
Growth continues
BTC tests 57K again
Bitcoin continues to consolidate above 57K
The market is still strong and buyers are not allowing the price to form even a small correction after the rally



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