Navigating Bitcoin's Consolidation Phase
The Bitcoin price dipped below the $65,796 resistance level, which is beneath the ascending trendline and the Ichimoku Cloud. Concurrently, the RSI indicator entered the overbought area, and as a result, the BTCUSD pair is testing the previously broken trendline at the time of writing.
From a technical standpoint, the bullish market has paused, and we are entering a consolidation phase that is likely to extend to the $68,000 resistance area.