2️⃣ Price action and volume: a healthy consolidation that trades time for space
After testing the previous high, the market did not plunge sharply; instead, it moved sideways. Recent candlesticks show that when the price retested the area around MA25 (83,365), it repeatedly formed candles with long lower wicks, indicating strong buying support below. Volume contracted noticeably during the pullback, a classic example of a “low-volume shakeout.” This is the major players trading time for space, absorbing profit-taking from the previous move and building momentum for the next rally.$BTC
After testing the previous high, the market did not plunge sharply; instead, it moved sideways. Recent candlesticks show that when the price retested the area around MA25 (83,365), it repeatedly formed candles with long lower wicks, indicating strong buying support below. Volume contracted noticeably during the pullback, a classic example of a “low-volume shakeout.” This is the major players trading time for space, absorbing profit-taking from the previous move and building momentum for the next rally.$BTC