Introduction
I wanted to start this post with the following question Does Bitcoin succumb or begin a new consolidation range, a bit to establish feedback with the multiple points of view that exist around the price action of the main cryptocurrency.
For those of you who follow my blog closely, you may have noticed that my views on Bitcoin and the crypto market do not stem from biased or media-induced assessments, in a way perhaps the approaches do have some optimism but somehow part of my tracking of the price action and statistical reading of the historical behavior of the bitcoin price.
From my perspective, the price action executed by Bitcoin and the entire crypto market alludes to a new correction that will provide us with cyclical sideways movements between $96,500 and $98,500 weeks element that I believe allows the entire crypto market to consolidate and preserve its financial stability.
As in other posts I remind you that I do not consider myself an expert on Bitcoin or any other cryptocurrency, nor do I consider my opinions reliable enough for you (reader) to take as a reference and guide your actions, but what I can say is that in the last few weeks of November 2024 the crypto market has been running this pattern in price action.
Specifically, I believe that Bitcoin and the crypto market are once again entering a sideways price consolidation zone, a behavior that somehow allows them to maintain financial stability and look for the new target above $100,000.
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Source: Criptotendencia
