Bitcoin is clearly consolidating after its recent breakout above $112K. Price is chopping between roughly $116K and $121K, taking a breather after last week’s rally. Tuesday marked the highest daily close in BTC history, but follow-through has been muted so far.
Volume is trending lower during this range-bound action, which is typical during consolidation. The 50-day moving average continues to rise and now sits around $110K, providing a strong cushion if price pulls back.
The structure remains bullish above $112K, but traders are watching for a breakout above $125K to confirm the next leg higher. Until then, expect more chop as the market digests gains.
Volume is trending lower during this range-bound action, which is typical during consolidation. The 50-day moving average continues to rise and now sits around $110K, providing a strong cushion if price pulls back.
The structure remains bullish above $112K, but traders are watching for a breakout above $125K to confirm the next leg higher. Until then, expect more chop as the market digests gains.
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info@thewolfoallstreets.io
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.