Bitcoin is still technically in the Pre-Halving Retrace phase of its cycle (dark blue circle)
But this phase is all about setting up the next phase: the Re-Accumulation phase (red)
This recent rejection from $70k has given us a better idea where the Re-Accumulation Range High resistance is (red horizontal)
Now it's all about figuring out where the Re-Accumulation Range Low will be (green horizontal)
For now, the -18% Pre-Halving Retrace has potentially marked the bottom of this Re-Accumulation Range
If ~$60,000 continues to be the bottom...
BTC may consolidate between $60k & $70k for the coming weeks going into the Halving and beyond.
