Bitcoin in consolidation. The bullish perspective remains alive!

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Good afternoon! The weekend is just around the corner and it promises to be a warm and sunny weekend. Since the Bitcoin price is currently in consolidation and the weekend usually leads to price action that is even more flat, I would mainly post alerts and then enjoy the nice weather. In today’s update, I’ll highlight the key price points. Read on quick!

LNOTE: this is not financial advice!

Daily chart

The picture on the daily chart remains identical. The lows are packed, the highs are open. And at the same time we form lower highs and lower lows. Two contradictory signals. In any case, the fact is that as long as the range low at $26,474 is maintained, there will be no breakdown and it remains likely that we will still get that bullish outcome. That range low at $26,474 is therefore a good place for an alert. As is the low at $25,764. At the high end, $27,648 is an alert worthy spot. And that way you actually have everything covered and you can start the weekend. Have a beer, get some vitamin D, not bad after all those hours of staring at the screen.

1-hour chart

The lows have been caught, but I don’t really see any price action to properly anticipate. Furthermore, we have liquidity at the highs, at $27,648 and $28,293. Those are places to look at short scalps. Perhaps a long setup will form at a later stage, with more price action. As you can see, it really is a “traders market”, it is focused on the lower time frames. As a long-term investor, you should not worry too much about the lower time frames.

Conclusion

So the bullish idea still stands, but there is work to be done! I’d like to see a push up this weekend to help the weekly candle stand better. I think it’s pretty thin so far. We need strength! To be continued!

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