#BTC: PRICE ACTION AFTER ALMOST 2 WEEKS OF CONSOLIDATING

If you're looking for an in-depth analysis of BTC's price action, then, you're in the right place.

Here's why.

As we've anticipated the exact same scenario currently playing out as BTC's price action, we're now more aware of the probabilities right after this action plan. Since August 8, 2024, BTC's minor resistance has been tested sitting at 61K-62.5K. More attempts of testing out the minor resistances, means a possibility of weakening these resistances and thus, possibly leading to BTC revisiting the key levels 64K above. The 62K minor resistance is most likely going to be broken and more rejections await on top of it. Albeit, this just means that the market sentiment can't really be underestimated as these recent movements of BTC just prove how important it is to identify how strong the market sentiment is. Once the action plan has been confirmed to be a breaking of the minor resistances, we can now fully anticipate on the next course of action to take. As such kinds of traders as we are, we will patiently wait for the opportunities that will be presented in the market. If BTC stays on top of 60.5K-61K and not immediately breakdown just like the previous tests of resistances, then, it would be safest to assume that more demands will enter the market.

Stay wise, trade cautiously.