Bitcoin is currently undergoing a period of consolidation within a symmetrical triangle formation. This price action, characterized by converging trendlines, indicates a state of equilibrium between buyers and sellers as the asset approaches the pattern's apex.
Key Observations:
Volume Profile: We are observing a diminishing volume trend, which historically precedes a significant volatility expansion.
Upside Potential: A decisive breach of the upper resistance line, supported by a volume spike, suggests a projected move toward the $69,500 – $71,000 liquidity zone.
Downside Risk: Conversely, a close below the lower support level may trigger a liquidity sweep, potentially retesting the $64,000 – $65,000 demand area.