Price Consolidation Is Still Uncertain

the 0 to 0.236 Fibonacci range is recognized as a key support level for Bitcoin. This level, until breached and confirmed with a price consolidation below it, does not definitively indicate that Bitcoin has entered a bearish trend.
Currently, the formation of a lower high compared to the previous high indicates the development of a bearish trend line. Although the price has closed above this trend line, we have yet to see a consolidation at this level. It is advised to look for signs of consolidation in a shorter time frame, such as the one-hour chart.
If consolidation occurs, there is a potential for Bitcoin's price to rise to the next resistance level in the 1 Fibonacci range and then to a price target of $44,600. Otherwise, a decline in price to at least the ascending trend line should be expected.

This analysis is for informational purposes only and should not be considered as financial advice.