Bitcoin has continued its consolidation phase since July 15, hovering above $115,000 and below $119,000 for two weeks. This price range could give us the opportunity to buy whenever BTC touches the 5/8 Murray level and sell below the 6/8 Murray level.
If Bitcoin consolidates above $119,000 in the coming days, it could signal a bullish move. So, we believe it could reach the 7/8 Murray level at 121,878 and even its all-time high around $123,100.
Conversely, a drop and consolidation below the 200 EMA located around 114,855 could lead to a bearish acceleration to the psychological level of $110,000.
Bitcoin could offer us opportunities to buy and sell in the coming days. We should pay attention to support and resistance levels, especially those we see on the chart.
