CRYPTO MARKET ANALYTICS
BITCOIN - Price can correct to support area and then start rise

Hi guys, this is my overview for BTCUSD, feel free to check it and write your feedback 👊

For a significant period, the price of Bitcoin was trading upwards within the confines of a rising channel.

Strong buying pressure led to a breakout above the channel's upper boundary, signaling an acceleration of the uptrend.

After this breakout, the upward momentum stalled, and the price entered a new phase of horizontal consolidation, forming a wide flat range.

The price recently tested the upper resistance of this range near $122800 and was rejected.

As a result, the asset is currently in a corrective move downwards, approaching the key support area located between $114000 and $115000

I expect that the price will find support at the bottom of this flat range, reverse its course, and begin a new rally back towards the top of the range at $122800

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