BTC April 11, 2024: Waiting For Breaking Out

On April 11, 2024, BTCUSD recovered from a higher-than-expected CPI selloff, crossing above its MA-21.

As of 1:56 AM UTC, BTCUSD is still moving in a consolidation zone right below the resistance $71,800 - $72,000 and a breakout through this zone would provide a buy point.

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As of April 16, the breakout trade has not been triggered. Since BTC is trading below its 50-day moving average, the consolidation zone between 67500 - 72000, which is above the 50-day moving average, has failed. It is forming a new consolidation zone between 61500 - 65200, and I am waiting to see if any pattern will be formed here.