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Dima š©š¹
@chevapchevapovic
Bitcoin has spent the majority of the week trading within a tight consolidation range. But unlike previous consolidations, this one carries a bullish undertone. With price action holding above major support levels and forming potential structural shifts, traders are on alert for a breakout move. Key technical points ā¢ Point of Control Support: Bitcoin is holding above the POC, which aligns with both the bullish channel low and the 0.618 Fibonacci retracement. ā¢ Rounded Bottom Formation: Price structure on the 4-hour chart is morphing into a rounded bottom pattern, often a precursor to upward momentum. ā¢ Volume Decline Indicates Accumulation: Volume has been declining as price compresses above support ā a common signal of accumulation before expansion.
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