BTC Technical Analysis: Strange Growth And The Target Of $41,500

The last 11 trading weeks in the Bitcoin market have passed in a total fall wave and the price decreased by 50%. This is quite a significant correction even for the volatile cryptocurrency market. After testing the consolidation range in May 2021, the pressure of sellers significantly decreased. This allowed buyers to start a local rebound of the BTC price and hope for a new growth wave. https://www.tradingview.com/x/1CVVRc4W/ If we look closely at the trading volumes, we can see that since the end of July 2021, the BTC price is moving at low volumes. The growth wave between July and October 2021 and the fall wave from November 2021 to the present happen without increased volumes. This fact shows that the Bitcoin market has entered a global consolidation in the range of $30,000-$65,000, in which it can spend most of 2022. BTC Technical Analysis On The Daily Timeframe https://www.tradingview.com/x/g0KCJzD2/ If on the weekly timeframe you cannot notice the interest of buyers, the daily timeframe shows increased volumes starting from 21 January. It was after the breakdown of the important range of $41,000-$43,000 that buyers became more active. All local attempts by sellers on smaller timeframes fail and eventually, each daily candle closes above the opening price. In the chart, in addition to the important range of $41,000-$43,000, we also see the main trend line of sellers. We displayed it as a small channel to avoid the effect...