📈 I marked the scenarios of price movement on the chart, but let’s analyze them in detail. Bitcoin ( BTC ) is now consolidating between two value zones:
1.$38,200-39,300
2. $41,400-42,300

🏄There is a global trend line lower, which can be a support for price together with the first value zone. Why should volumes rise after the trend line will be tested? It’s simple, so the big player🐳 will show his willingness to buy, and the big player🐳 knows more than we do. If the volumes don’t rise, then the price with high possibility(60-75%) go lower.

🏁The main question is, who will be the fuel for the move down? The fuel🔥 will be the long traders who took their positions higher and in this consolidation. Likewise, the short traders can be fuel🔥 for the move up, after a false breakdown or similar TRAP. The stop orders to sell will be triggered, and the big player will be able to take that liquidity and the price will move higher.

🎯It is important to note that the more the level tests, the weaker support or resistance becomes and at some point this level may not hold the price. For Bitcoin , it is better to make some traps and quickly renew its highs. I hope it happens soon!

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P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.