RLinda

RLinda ! BTCUSD-> Consolidation. What to expect from the price?

RLinda Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
Bitcoin has been forming a 46% rise since its second (supposed) bottom, which is quite surprising. As Sentiment noted in one of its reports - shortly before the rally, on January 5, there were 2 identical, largest deals in a month on the BTC network. Again it's worth asking - was that the scenario? (The cycle is starting to repeat itself again.)


It is worth to pay attention to an interesting situation: when distributive movement is formed, the price breaks through the resistance of descending channel and consolidation is formed. Statistically, I can single out such a set-up as a possible false-break. While the price is above this line, the buyers are actively gaining positions, but it is possible that in the near future the market maker may weaken the price a little (trap) to entice liquidity.
In our case, if the price consolidates below 22488, it could go to the strong support from June 24, 2022 - 21558


The flagship has now entered a strong range - support 21558 - resistance 25211. The price is consolidating above the support zone and if you look from a trivial behavioral point of view, the price could head towards 25211 in the near future, but in that case the bulls need to hold the levels of 22488 and 21558.


At the same time WhaleMap is paying attention to the levels of the traded volumes in Bitcoin and notes that the next significant resistance level (according to the traded zones) is the resistance of 27000, and till that time the price will be in the void zone of the chart, in fact, there will be no obstacle before reaching the mentioned resistance


Strong levels and zones.
On the support side, bitcoin has the following strong support zones, 22488, 21558 and a local low of 20400. An important nuance, if the price starts to form a pullback, so that bitcoin does not fall deeper than these levels, in that case the potential for a fall to 18400 will open
Resistance
The nearest strong resistance is the upper consolidation boundary at 23370. If the bitcoin breaks this level, the price can go up to 25000
Strong liquidity zone is hidden behind 23800 and 31300

Fundamental nuances:
-CryptoQuant: another long-term bullish signal is triggered
- The cycle repeats about every 3-3.5 years
- Stripe is actively working on crypto payments
- Glazznode: the NUPL at these levels shows that the capitulation in bitcoin may be exhausted, it means that everyone who wanted and could has mostly sold out
-CoinMetrics: BTC in this cycle between halvinagmies will depart significantly from the average dynamic in past cycles
- Bitcoin is behaving stronger than the SP500 index

Regards to R. Linda!
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