Bitcoin is currently undergoing a consolidation phase, characterized by a Rejection Block observed at the 4-hour time frame, indicating a delicate balance between bearish and bullish sentiments. It is projected that the price will experience a decline towards the level of 25222.0 and potentially even lower in the upcoming days, as part of an attempt to close the daily and monthly fair value gap within this range.
Interestingly, smart money has been strategically maneuvering below the closing price of the past 6 days to collect liquidity from this area. Given this development, there is a potential for an upward movement before the price ultimately resumes its decline. We may witness a push towards the range of 27800 - 28200, enabling smart money to further accumulate liquidity within this zone. Subsequently, the price is anticipated to retreat back towards the 25000 area.
Interestingly, smart money has been strategically maneuvering below the closing price of the past 6 days to collect liquidity from this area. Given this development, there is a potential for an upward movement before the price ultimately resumes its decline. We may witness a push towards the range of 27800 - 28200, enabling smart money to further accumulate liquidity within this zone. Subsequently, the price is anticipated to retreat back towards the 25000 area.