💰Bitcoin price showed a decrease again📉

Negative dynamics again prevails in the market. This state of affairs is, of course, sad. But we need to clearly understand what to do in this situation and at least roughly imagine where the price will go.

Today we will consider the timeframe of 1 day. Here we can see the price movement within the medium-term consolidation 🕯, which started in the middle of March this year. It lasts for more than three months. The upper boundary of the consolidation is the resistance level ~$71,400. Locally, it is corrected as a zone between the marks ~$71,400 and ~$72,450. From below, the main support is the level of ~$61,000. Also, the psychological mark of ~$60,000 and the support level at the local low at ~$58,350 are clearly seen as support.

We saw many attempts to break the lower boundary at ~$61,000 earlier. I counted a total of 4 times, each ending differently. There is now a fifth attempted breakdown occurring. It may be most similar in nature to the April 30-May 2 "false breakout" when even the candlestick bodies went down below the level. I do not exclude that the price will reach the conditional support at the local minimum of ~$58,350.

For now, I wouldn't expect a move into any kind of full-blown corrective stage on Bitcoin ⚡️