$BTC holding the 20-week EMA—classic mid-cycle support level. If this is the line, we're setting up for another leg. If not, things get interesting fast.
Consolidation here is fine. Shakes out weak hands, resets funding, gives the market time to digest the run. Better than a straight shot up that ends in a violent unwind.
Watch how it reacts here. Clean bounce = continuation bias. Break and close below = re-test lower support, maybe the 50-week. No one knows for sure, but the setup is clear enough to trade around.
Consolidation here is fine. Shakes out weak hands, resets funding, gives the market time to digest the run. Better than a straight shot up that ends in a violent unwind.
Watch how it reacts here. Clean bounce = continuation bias. Break and close below = re-test lower support, maybe the 50-week. No one knows for sure, but the setup is clear enough to trade around.