Lingrid | BITCOIN breakout of 7-Month Consolidation Zone

Nov 11

The price perfectly fulfilled my last idea. It hit the target zone. BTCUSDT made an upward impulse leg, successfully breaking and closing above the consolidation zone that persisted for over 200 days. The market has now tested the psychological level of 80,000, which raises the possibility of a pullback from this level. Typically, the longer the market remains in a consolidation zone, the stronger the resulting breakout tends to be. The last weekly candle closed with significant strength, forming a large bullish bar. I believe that the market may retest the around 50% level of last week’s candle range. My goal is resistance zone at 86,000

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻