BTCUSD - Boring Consolidation - When will it end
2024-10-10

Good day to you all!

BTCUSD has been consolidating in this same range for 8 months.... really irritating a lot of speculators out there. No need to fear, we're getting close to the completion of this consolidation and we'll have some resolution soon.

What I actually expect that I didn't mention in this video is a little bit of a drop going into the US elections and a swift recovery after that. I'd like to see the 50D SMA overtake the 100D SMA and ultimately get above that 200D SMA but that's going to take a little more work and a lot more time.

BTC is starting to become a mature asset as time goes by and companies start to place crypto assets on their balance sheets. We need to have patience for this resolution to take place. The next move we have will be big but nobody knows exactly when it will happen.

Targets?
I'd like to see BTC fall to 57-58k and find significant support there and start a rise back to ATH (and beyond - but we'll see if/when we get there). A failure of that 57k area would indicate we're likely to return back to the 50k or lower area. Watch support levels and as they're broken, look for the next level if you enjoy playing the short game. Vice versa for resistance levels.

Trade carefully friends!