BTC consolidation before continuation of uptrend

BTC is looking to go sideways for the rest of the week, consolidating at around 7300-7500 levels. Expecting a retracement to around 7100 as a support retest. The R3 pivot and trending line is currently acting as resistance. If market sentiment remains bullish, we should see a continuation of the uptrend which will break past the trending line and reach the 0.5 fib retracement of around 7870. From here, a possible retest of the trend line before moving up past 8k.

Any bad news from here such as regulation or negative ETF news would probably see BTC crash down to 6800.