LIFUI. O. LOR #BITCOIN MY THOUGHTS ON CONSOLIDATION = $81K MOVE

When looking at the lower timeframes, I see a failure on the bears to take the price lower, again and again. I suspect that the consolidation that is currently taking place is similar to the consolidation that took place in November of last year. In a bullish scenario, I am anticipating a retest of $49,000. If price does rally above $49,000, I believe it would continue to a new all time high of $81,000. Until there is a break below $28,600, I believe it is best for the bears to take a break. I will be scalping longs on the lower timeframes, unless there is a break below $28,600. This idea explains my bias for the bigger picture based on what the price is telling me up until now.

This trade idea is not financial advice. I am not a financial advisor of any kind.

Please do your own analysis, responsibly manage your risk, and stay safe.

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