BTCUSD → Pre-break consolidation and flat at resistance
BTCUSD continues to forge an uptrend and also gives us preconditions that the growth will continue. The price is forming consolidation before the breakout and is confidently forming another bullish wave
On the chart we see an ascending triangle, the key resistance area that holds the price is the area of 31500. The price continues to ford retests against resistance and forms a pre-breakout consolidation.
Within the flat 31500 - 29700, a retest of 0.382 fibo and a false breakdown may be formed, which will increase liquidity for the continuation of growth.
Another rally has moved into the consolidation phase and we have to wait for the preconditions that the price will be ready to come out of this consolidation again.
Locally there are no key patterns, we should pay attention to narrow consolidations near resistance or a breakout followed by price consolidation above or below the level.
Moving averages in the role of support indicate a strong trend
Resistance levels: 31500
Support levels: 30000, 29700
I expect the consolidation to continue with the subsequent price squeezing to the resistance. A sharp retest will lead to the fact that the resistance may be broken. Medium-term outlook 32196-34000.
Regards R. Linda!
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