Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
dragonvslinux
on 06/11/2021, 11:46:53 UTC
Price remains bullish while holding the $61K local volume point of control.

Price is now failing to hold the $61K support trend-line, as well as the VPVR point of control ($61.2K), suggesting a re-test of the 200 MA at $59.4K may come into play.
Moving below the distribution zone of $60-62.5K would additionally turn it into resistance in the short-term, so a bounce from nearby support could be short-lived.



Back to being 50-50 for me again until a new higher low is established, or lower support re-tested between $53K-57K.
The sideways consolidation remains healthy for accumulation, but making a trade within it wouldn't be.