"Never Bend Over..". My coach would say as we ran our sprints. Bending over wtih a crunched diaphragm does not permit your lungs to fully recover or get as much air as we need. During intense exercises like sprinting, an athlete's heart rate spikes in order to pump oxygenated blood to the muscles. This provides the energy and respiration needed for maximum exertion. But this elevated heart rate is not sustainable. So when the intense burst is over, the athlete needs to recover by lowering their heart rate again. They initially take slower, deeper breaths to provide adequate oxygen while letting the heart rate drop. Deep breathing helps slow the heart's pacing. As the heart rate lowers to a normal range again, the athlete can breathe more regularly. But they focus on controlled, calm breathing rather than gasping initially. Oxygen levels saturate, so the athlete can return to more normal levels. Like an athlete, the subsequent cooling off after Bitcoin’s recent rally is allowing markets to "catch its breath" - intensity is lowering and hype calming.

-RO

Market Analysis

Consolidation After Breakout

After successfully breaking the critical support level at $31.5K, a pivotal point we highlighted in our previous posts, Bitcoin has entered into a phase of consolidation within a defined range ($33.5k-$35k).

Weekly View

Bitcoin's Critical Test: Upper Bound and Upward Potential

Bitcoin's price has been moving in an upward parallel channel. Right now, it's getting closer to the upper bound of this pattern. So, as we keep an eye on Bitcoin, we're paying extra attention to this point as it could act as potential resistance. Or in the case of breaking above this pattern, that could be the trigger for a stronger move to the upside.

Daily View

The Hidden Trend

Moving on to Bitcoin's daily view, an interesting development has caught our attention. Bitcoin seems to be testing a hidden trend line, and it's meeting some resistance along the way.

Short Time Frames

Bitcoin's Tight Range: Consolidation Signals Potential for Exciting Moves

On the shorter time frames, Bitcoin is currently caught in a tight range, showing signs of consolidation following its recent breakout. Bitcoin is pausing to catch its breath after the sprint. Such consolidations often precede significant price movements. As we zoom in on these shorter time frames, it's evident that Bitcoin is gearing up for its next move, and the direction of the breakout of this range can offer valuable insights into Bitcoin’s next move.

Market Statistics

Bitcoin Market Cap

Bitcoin Dominance

Disclaimer: The information provided in this newsletter is for educational and informational purposes only. It should not be construed as financial advice or a recommendation to buy, sell, or hold any financial instruments.