Is Bitcoin Building a Base or Preparing to Break? 📊
The market is showing some heavy consolidation right now. We've seen $BTC trading broadly in the $62,000 to $66,000 range over the last few weeks, currently sitting around the $64,200 mark.
From a technical standpoint, this high correlation with broader equity markets and the recent ETF outflows is creating a chop zone. However, on-chain accumulation is still happening at these support levels.
My Current Strategy:
I am closely watching the key resistance zone around $65,000 to $65,600. A sustained break above this area is required for any strong bullish continuation. Until then, I am playing the range and keeping tight stop-losses on any altcoin exposure
The market is showing some heavy consolidation right now. We've seen $BTC trading broadly in the $62,000 to $66,000 range over the last few weeks, currently sitting around the $64,200 mark.
From a technical standpoint, this high correlation with broader equity markets and the recent ETF outflows is creating a chop zone. However, on-chain accumulation is still happening at these support levels.
My Current Strategy:
I am closely watching the key resistance zone around $65,000 to $65,600. A sustained break above this area is required for any strong bullish continuation. Until then, I am playing the range and keeping tight stop-losses on any altcoin exposure