$BTC 🚨Bitcoin is currently in a short-term bearish consolidation phase, trading around $74,600. While the broad, long-term trend remains structurally healthy (with the weekly moving averages sloping upward.
Immediate Support ($74,000 – $74,800): This cluster represents a massive liquidity pocket. Keeping daily closes above this range prevents a deeper.
Major Structural Support ($71,000 – $72,300): If $74,000 fails to hold, a deeper correction to the 0.5 Fibonacci retracement level near $71,000 is likely.
Immediate Support ($74,000 – $74,800): This cluster represents a massive liquidity pocket. Keeping daily closes above this range prevents a deeper.
Major Structural Support ($71,000 – $72,300): If $74,000 fails to hold, a deeper correction to the 0.5 Fibonacci retracement level near $71,000 is likely.
