Summer Markets Could be Bearish; Bitcoin Enters Now or Never Trade-Here’s What’s Next for BTC Price?

Bitcoin continues to maintain its upward trend since the token has rebounded above the $ 75,000 mark. The price currently consolidates around $ 95,000, displaying a possibility of break, which could lead to additional growth, but there is still a risk of short -term correction. The current commercial configuration suggests that the price has accumulated well below a crucial range for more than a week, which has led to a huge price action in a recent past. Now that volatility has dropped considerably, can the BTC price trigger an escape beyond the pivot resistance at $ 96,200?

The price of the BTC is heading for the end of the consolidation period while the token continues to get stuck in a short -term ascending triangle. The token firmly held the lower support, referring to a potential break. Meanwhile, techniques become long -term lowered, which raises concerns about the stability of the rally.

After having broken with the corner, the price of the BTC reached a significant resistance zone and, despite a decent ascending pressure, remained in the area. However, the price failed to test the FIB from 0.618 to $ 96,200, which has become a threshold to reach. On the other hand, MacD shows a drop in sales pressure, and the levels are moving towards a lower crossover.

This can increase alarms because a drop below the POC zone between $ 94,000 and $ 94,675 can bring back levels close to 0.5 FIB to $ 92,062. As long as Bitcoin is less than 0.618 FIB and the POC on the volume profile, Bitcoin continues to stay on a lower market. In addition, a fair value gap was made up of around $ 87,000, which could be filled in the coming days. Consequently, market players must be vigilant, because the volatility of Bitcoin prices (BTC) should start during the monthly fence.