It seems that consolidation lasts quite long and the market has grown to make the next move. I personally reduced BTC exposure during the ups and downs and now I bet both sides on both sides of consolidation playing some small amount of shorts and longs inside consolidation.
The situation does not look good for the bulls as there were 2 failed attempts to form the new height, same situation for the bears.
On the market currently, long positions are being closed and swap rate for USD skyrocketed a few hours ago now is declining - but unless it will move very dynamically it should be natural behaviour I think that most of the trades await the prices to go to 5050 and they want to buy there - that will not happen then. The current consolidation may be treated as a flat correction as well with several opportunities to change sides for everyone.
I bet in favor of next dynamic move around 6000 in next day or two after the price will leave triangle or bounce on the trend line, that level can be bounced or breakthrough slightly up to 6150 USD - which is 1.618 extension of correction wave from September.
The situation does not look good for the bulls as there were 2 failed attempts to form the new height, same situation for the bears.
On the market currently, long positions are being closed and swap rate for USD skyrocketed a few hours ago now is declining - but unless it will move very dynamically it should be natural behaviour I think that most of the trades await the prices to go to 5050 and they want to buy there - that will not happen then. The current consolidation may be treated as a flat correction as well with several opportunities to change sides for everyone.
I bet in favor of next dynamic move around 6000 in next day or two after the price will leave triangle or bounce on the trend line, that level can be bounced or breakthrough slightly up to 6150 USD - which is 1.618 extension of correction wave from September.