
Could Bitcoin Correct Before the Next Big Rally?
So at the moment BTC is being rejected at a large resistance trendline, and we are hovering just underneath the important $84k S/R zone. We have seen a significant recovery from the Feb lows and we are now in a level of congestion where sellers are beginning to come into the market.
As long as BTC is underneath this red resistance trendline and $84k area, I think a short-term pullback/consolidation from here is on the cards. Although if we manage to breakthrough this resistance zone and flip the $84k level support, that could lead to a potential new rally towards new ATH's.
Key level to keep an eye on for now, as rejection could cool the market in the short term, although a breakthrough would be bullish for all of crypto.