Hello everyone,
Bitcoin has been testing the small timeframe resistance, which was created from the current market consolidation after its most recent rise. At the same time, the next timeframe support squeeze has been in play and is expected to reach its final squeeze state either today or tomorrow. This could likely lead to a new correction phase.
As I mentioned previously, I expect the price to test the $28,800 to $28,900 range during this week. If there isn't a panic sell following the correction, it's likely that we will see more sideways market movement leading to a new accumulation/distribution range.
Bitcoin has been testing the small timeframe resistance, which was created from the current market consolidation after its most recent rise. At the same time, the next timeframe support squeeze has been in play and is expected to reach its final squeeze state either today or tomorrow. This could likely lead to a new correction phase.
As I mentioned previously, I expect the price to test the $28,800 to $28,900 range during this week. If there isn't a panic sell following the correction, it's likely that we will see more sideways market movement leading to a new accumulation/distribution range.