cryptodream

BTC continues to decline actively despite the start of the weekend. We touched the 67,706.9 level, but managed to bounce back as the strength to stay above held up for now. However, will there be enough momentum for a full consolidation above this level? That’s the rhetorical question.

The reaction to the 69,685.8 level is crucial right now. If we fail to break above it, a significant correction and a return to sideways trading (a channel) under the influence of bearish technical patterns may follow.

Volumes have dropped significantly over the past couple of weeks, making this BTC rally essentially hollow at the moment. So, proceed with caution and avoid taking positions without confidence. Tomorrow, we will continue analyzing spot positions and may also review futures in search of potential trades.