Bitcoin tries to sustain its bullish marketAfter a nearly 30% drop from its all-time high, BTC seems to be consolidating within the $80,000 to $85,000 range. However, it is still too early to confirm a new bullish impulse.
According to my analysis, BTC is compressing between two trendlines that have been forming over the past few months. The first one, an ascending trendline, has been in place for eight months (since August 2024), while the second, a descending trendline, has been forming since early January. At first glance, the movement appears predominantly bullish. However, I am personally waiting for a breakout of the descending trendline, followed by a retest and a bullish alignment of my cloud indicator and moving averages.
This outlook applies to medium- and long-term trades, focusing on 4H charts and higher timeframes.
