BTC is probably in a reaccumulation phase, which is confirmed by the volume for me. There was more trading at the local bottoms, which is why we assume accumulation. I also marked these accumulations with red ranges.
There are two options, one is the blue faster way, the other is the slower but more likely option (purple).
There are two options, one is the blue faster way, the other is the slower but more likely option (purple).
Note
If we look at the weekly chart, we can get a more comprehensive picture. The yellow zone formed due to the previous ATH is what we are testing now.
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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.