Bitcoin has been consolidating for the past week and is showing some positive momentum at these levels.

According to the one-hour time frame, it has drawn three major supports, the highest of which is $67400. The second is at $66300, and the final, strong support is at $65300.

As you can see from the chart. I have drawn some trend lines and patterns based on my analysis and knowledge base.

We are about 14 days away from the Bitcoin halving, which will have a significant impact on the cryptocurrency market and the price of Bitcoin.

Most likely, Bitcoin experienced a dip prior to halving, and it will now enter a consolidation phase, with the price beginning to rise again shortly after the halving.

This is the trend line according to 1H, which is very nicely forming the Bullish pattern.

As you can see in the second support line, a false bearish pattern formed, grabbing liquidity and continuing the bullish trend.

We can see an intersection between the two bullish and bearish trend lines, and this is the point of intersection that can cause the market to move to the upside or downside. $68,000 is an extremely important price level.

There is a greater chance that the bitcoin price will continue to rise from this level and break through resistance to reach the high of $71000 once more.

I hope you find this post interesting and I hope you will like it. If you like the post, please leave feedback in the comments section so that the next one will be even better. Thank you for sticking with me until the end.

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