BTCUSDT sideway waits for a move down from 72,000

BINANCE:BTCUSDT   Bitcoin / TetherUS
Dear traders! Overall, BTCUSDT is still moving sideways in a consolidation zone on the 4-hour chart around the 72,000 - 67,000 area. The short-term correction continues to form. The price broke above the 69,200 support level and is now on track to test the new support zone at 67,200. But at the same time, a falling wedge is forming that will theoretically break the 69,200 resistance and realize growth to $72,000.
In general, at this time the market will move inside the range, inside the range the correction will continue to develop. Trading will take place between levels. Based on the current market structure and price behavior following a clear breakout on the long-term chart, we are more likely to catch a market correction as long as the price remains below the $72,000 resistance level.

And you, do you expect a wave of BTC price decline?
Trade active

👑Realistic & accurate VIP & free signals
🔔Please follow us on Telegram for more analysis. 👉

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.