BTC Consolidates Post-Sweep, Eyes Next Directional Move
The market structure has undergone a bearish shift, confirmed by the Change of Character (CH) and subsequent Break of Structure (BOS) after the previous highs. Recently, price successfully swept the Sell Side Liquidity (SSL) below, a common maneuver preceding a potential counter-trend move. Following this sweep, Bitcoin is currently in a phase of consolidation, suggesting accumulation or distribution before the next significant impulse. While there’s a perceived ‘small chance’ for a substantial upside movement from here, the Buy Side Liquidity (BSL) and the denoted Demand Zone (DZ) above represent critical resistance levels that would need to be overcome, particularly as prior attempts to quickly grab liquidity in that area were not sustained.
