$BTC says some really discouraging things, I don't think the next Bitcoin will see the kind of sharp volatility that happened last week.
The reason is simple: from a technical perspective, the current price is in a month-level chip/demand-dense zone. The market needs to move sideways and consolidate to absorb the overhead trapped positions and the selling pressure from short-term profit-taking longs.
As a trend trade, the next Bitcoin market will be very boring. Price action will range-bound, with a period of consolidation and cleanup. The market will also be relatively calm.
Bitcoin needs some positive catalyst news to break out of this consolidation range and then once again push toward the $100,000 threshold. I think the Clear Act could be the catalyst
The reason is simple: from a technical perspective, the current price is in a month-level chip/demand-dense zone. The market needs to move sideways and consolidate to absorb the overhead trapped positions and the selling pressure from short-term profit-taking longs.
As a trend trade, the next Bitcoin market will be very boring. Price action will range-bound, with a period of consolidation and cleanup. The market will also be relatively calm.
Bitcoin needs some positive catalyst news to break out of this consolidation range and then once again push toward the $100,000 threshold. I think the Clear Act could be the catalyst
