Lingrid | BTCUSDT Birds Eye View

The price perfectly fulfilled my last idea, and it went up towards the resistance and hit target. BTCUSDT formed a consolidation zone on the daily timeframe. The market is heading towards the support level and March lows. If you look at the monthly timeframe, you'll see that price action is creating an inside formation. The ideal confirmation would be a fake breakout of the monthly low, which is a liquidity grab below the support level. I think the price might keep moving sideways even after halving until May. But it is just speculation. I expect the market to retest the channel border as well as the bottom of the range zone, then slowly move upward. My mid-term goal is a resistance zone at 73555.00

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Comment:

The price perfectly fulfilled my last idea. The market formed a double bottom, which is a bullish sign, and rebounded from the support level. BTCUSDT also broke, and we fixed the level at 63500 that was tested quite a lot. The market failed to make a lower low, and it actually broke the structure on the 1H timeframe. The price action is also forming an engulding candle on the daily timeframe, absorbing the previous three-day candles. I expect the market to move forward and retest the key resistance. My target is the resistance zone at the 70K level.