I just noticed the BTC chart today and there are a few interesting things. It looks like the price is currently in a fairly tight consolidation phase, especially around the support area $67K which was just reclaimed. From here, the nearest resistance is at $72K, but if the momentum continues, BTC could test $74K moving forward.



The most interesting thing, in my opinion, is the pattern formed on the chart - a falling wedge pattern indicating growing bullish strength. This falling wedge chart pattern is usually followed by a fairly impulsive move upward. The decreasing support and resistance levels suggest a liquidity squeeze is happening, and a breakout could be a major momentum.

There is also a fairly thick liquidity cluster around $70K and $64K. If BTC can stay above this reclaimed zone, the bullish structure remains intact. But if it drops below $65K, the ongoing accumulation pattern might be disrupted.

From a long-term cycle perspective, macro indicators currently show a stronger position. Long accumulation periods are usually followed by sharp increases - history shows returns of up to 190% or even more. So this momentum could be the long-awaited expansion phase.
BTC-0.75%
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