BITCOIN - A correction within a consolidation phase

Sep 10

BTCUSDT.P reached a new cycle high at 82,300, but still failed to reach the key target. The market remains in consolidation, within which a countertrend correction is developing



The fundamental backdrop remains unstable, but relatively favorable for the market. Against this backdrop, Bitcoin continues to consolidate within the current range. On September 15, the Senate is scheduled to hold another vote on the CLARITY Act.
The market has been range-bound between 76,400 and 81,300 for the third consecutive week. Technically, a local wedge is forming within the range, and Bitcoin could test the support cluster before attempting another move higher. The bullish structure remains intact, and during the correction, price could test the 77,000–76,400 liquidity pool

Resistance levels: 79,470, 80,500, 81,270
Support levels: 77,000, 76,390

The correction appears to be aimed at a potential liquidity hunt. The key focus remains on the support zones mentioned above. A long squeeze could become a technical catalyst for the continuation of the uptrend

Best regards,
R. Linda!

Sep 10

Trade active

Sep 14

Trade closed: target reached