BITCOIN → Continued consolidation before a strong move

RLinda Updated   
BTCUSD is testing 71572 and forming a false breakout, I have emphasized our attention to liquidity above this level in a separate idea. Trading inside the range after capturing liquidity continues and the market appears to be preparing for a halving.

(April 6 idea: BITCOIN → Trading inside a sideways flat. ↑ 75K or ↓ 60K?)

The false break of resistance and 8.5% retracement indicates that the coin is not ready to go up yet, but at the same time it is not ready to go down, as indicated by the MA-50 retest and the candlestick pattern, which can be interpreted as the activity of strong buyers protecting the market from falling. On W1 we see a strong growth, which gradually turns into consolidation and does not give any correction or technical pullbacks - this indicates the strength of the market, the bulls are watching the price and continue to stand in their bullish stand in order to throw the price even higher.

Resistance levels: 71572, 73679
Support levels: 0.236 fibo, 64545, 61447

After the resistance retest, the market may be interested in the lower zones from the liquidity point of view. Bulls are actively defending them and holding the price, but before halving the price may try to drive it lower in order to liquidate traders and accumulate potential before further strong price movement


Regards R. Linda!
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Bitcoin has not experienced any negative fundamentals recently, other than a reaction to geopolitical nuances.

In general, the fundamentals of the flagship of the cryptocurrency market are very strong
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Consolidation on H1
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Price is testing support, a partial liquidity grab and a bounce is forming. If BTC passes through 64545, it may head towards 67929
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Halving is a little over 5 days away, I wonder how the market will react to the primary data, will there be a decline to liquidate traders or a rise immediately...
It's worth looking at 62300
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Hong Kong approves spot applications for BTC-ETFs
This could attract new money from Asian countries, and even more so from China
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Bitcoin is getting into deeper zones. Halving is about 4 days away
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Bitcoin is testing the lower area of the sideways range and entering risk areas. Buyers are getting scared
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Support zone retest
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The market is in the phase of realization of the scenario indicated under the green line

Bitcoin starts to strengthen
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Small correction and retest of the intermediate support level



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