Bitcoin appears to be in a bullish consolidation phase following its breakout to a new all-time high. After reaching a strong resistance zone around 115K, the market showed a clear rejection on the sell side, indicating a pause or pullback before the next potential move higher.
The broader trend remains bullish, with price action still trading above key moving averages and maintaining higher lows on the 4H chart. Price is currently consolidating near the previous ATH level, potentially forming a bullish continuation pattern (e.g., a bull flag or pennant). This is a healthy sign of accumulation before a possible leg higher.
The area around 115K is acting as a decent support zone, previously a resistance level that has now flipped. If the consolidation resolves to the upside, we could see a continuation move toward.
The broader trend remains bullish, with price action still trading above key moving averages and maintaining higher lows on the 4H chart. Price is currently consolidating near the previous ATH level, potentially forming a bullish continuation pattern (e.g., a bull flag or pennant). This is a healthy sign of accumulation before a possible leg higher.
The area around 115K is acting as a decent support zone, previously a resistance level that has now flipped. If the consolidation resolves to the upside, we could see a continuation move toward.
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