After reaching an all-time high in March,
BTCUSD started to consolidate between 61k and 71k, with a false breakdown in the final days of April. Following this false break, the price once again reached the resistance zone last week and is now consolidating again.The overall trend remains clearly bullish, and the chart structure over the last three months is somewhat similar to the December-February consolidation.
Considering these factors, I remain bullish on Bitcoin and expect a rise to the 80k zone, if not higher. Only a price drop below 60k would change this bullish outlook.
Note
BTC looks like will make a bullish engulfing today.Now is trading above 70k and the up break looks unavoidable
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
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.