Bitcoin - The current price action suggests a consolidation phase
The current price action suggests a consolidation phase.
Previously in April, after reaching the upper Bollinger Band, the price consolidated around the $93K level for a couple of days before a significant upward move from the 20-day moving average.
Given the recent heightened volatility, it's important to note that the bullish trend remains intact as long as the price stays above $100.8K, with a potential target of $108K.
However, if the ongoing consolidation leads to a break below $100.8K, a move down to $96.6K would likely follow (Based on the rally during the weekend, these levels are updated).
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