Bitcoin: Consolidation Ahead of Breakout or Correction
I think Bitcoin is in a consolidation phase after recent volatility, testing key support and resistance levels. I'm watching price action around the major moving averages and prior swing highs for signs of direction.
I expect a clear breakout above resistance to resume an uptrend, while a decisive break below support could signal a deeper correction. I prefer to wait for confirmation rather than chase intraday moves.
Analysis
Bitcoin shows range-bound behavior with reduced momentum; volatility spikes can produce false moves, so using volume and retest confirmation at key levels improves signal quality.
Recommendation
I'm watching price levels and will wait for a confirmed breakout or breakdown before entering. For now, remain neutral and avoid initiating large positions without confirmation.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.