🟠 BTC/USDT H1 Update: Consolidation at Resistance
Current Market Status:
Trendline Interaction:
$BTC is currently hugging the descending red trendline that has acted as major resistance. After a brief spike above $70,000, the price has retraced slightly and is consolidating around $69,417.
Support Base: A new ascending support line (bottom red line) is forming, creating a large symmetrical triangle or "pennant" structure. The key immediate support is located around $67,000 - $68,000.
Moving Average (EMA): The price is currently trading just below the long-term white EMA, which is acting as a