BTC → Consolidation Before The Breakout When Do We Go Up?
2024-12-14
Category: None

BINANCE:BNBUSDT   continues to consolidate, but within a strong bullish structure. The price is approaching the trigger, the breakout of which may provoke the formation of an upward impulse

A good signal that hints that the growth is likely to continue is the fact that after a strong growth and testing 100K the price does not fall, but consolidates with gradually rising local lows, it is also worth paying attention to MA-50, which acts as a strong support. Within this consolidation we have clear zones, within which the price is trading and accumulating potential, and there is also a clear trigger, the breakout of which can provoke the continuation of growth (distribution).
But next week is the Fed meeting on December 17-18, and there may be short-term market manipulative reactions. Be careful

Resistance levels: 101.8K, 104.1K
Support levels: 98.9K, 94.15K

Technically, the focus is on 101.8 - 98.9. Consolidation is forming inside this channel. I do not exclude a chance of support retest in the format of a false breakdown before further growth. Another deep correction to the lower liquidity zone - 94.1K is also possible. But until the price breaks 101.8, bitcoin will not go up, and based on the chart, the event is close and the chance is high