For another week in a row, Bitcoin closes above the key support level of $59,500, leaving shadows below.

In this case, the actual closing of each weekly candle is lower than the previous one.

During this sideways trend, previously strongly overbought indicators continue to cool.

And the index of fear and greed has already dropped to neutral levels from extreme greed.

📊 Now the Bitcoin price has almost reached the medium-term upward trend along which the long-term moving average MA20w runs, which the price tested from above literally 2 weeks ago.

And the indicator is already testing the medium-term upward trend on the weekly timeframe.

The most interesting thing is that the price is already completing the formation of the bullish Wedge pattern.

We can state the fact that everything is going according to plan and the current sidewall does an excellent job of cooling the technical indicators.

And the time of the current sideways trend is already close to completion, so the wait for a new round of growth is not long left.

Also, many have probably already given up on the market and sold their assets.

Well, we are waiting for such guys back at the highs of the market.

🔍 If you look at the liquidation map, you will notice that the market has not collected the liquidity of leverage lovers for more than a month.

From this we can draw 2 conclusions:

1. Most traders have stopped using high shoulders.

2. Very soon we can expect a strong movement with record liquidations.

If the market is dominated by long sentiment, then around $58,000 for Bitcoin all lovers of leverage up to the x10 leverage will be liquidated.

If short-term sentiment prevails, then a new round of market growth may begin.

🍀How fortunate that tomorrow and the day after tomorrow inflation data in the United States will be released, which can cause strong volatility in the market.

If the data indicates a decline in inflation, then nothing can leave the markets for a new round of growth.

If the opposite happens, a temporary sale may begin.

However, we think Bitcoin will close this week again above the key level of $59,500, and possibly even above the key resistance of $69,000.

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