You have two consolidations. Both move down the sloping consol | P_S_trade_eng
You have two consolidations. Both move down the sloping consolidation channel.
Both are taken from the Bitcoin chart for May-June. The only thing is the lower consolidation of 2021, and the upper one is what is on the BTC market now.
The previous consolidation was more pessimistic. The price of Bitcoin has been at the bottom of the consolidation channel for more time. However, even with such consolidation, the price of BTC was able to shoot up.
In today's consolidation, we see that the critical point for continued growth is in the range of 29,300 (it is from this point that we published a short-term trade).
If buyers do not keep the mark 29300 - It is worth preparing for the worst case scenario - the test $ 26500. easy update of the local minimum and up. This is still acceptable in relation to our global scenario of Bitcoin price movements.
