BTC-“Volatility to Continue”

12-Hour Analysis:

Big Picture: The volatile conditions continue as price remains within the symmetrical triangle formation. Neither participant has been able to come up with a breakthrough or even a little manipulation. Price might continue in the consolidation phase for a bit longer as there is decent downside protection owing to the EMAs as they approach the price and Bitcoin has some substantial obstacles above in the shape of resistances.

On the Upside another session with the 34,550 resistance barrier keeping the price limited below it. Breaking through this barrier is critical for price to re-test the 34,840 to 35,075 levels. The bullish breakthrough will only be confirmed if it breaks and holds above the 35,075 mark.

On the Downside as the price approaches the support levels of 33,970 to 33,670, a decent reaction is visible each time. This demonstrates that there is a huge desire for cheaper prices. Meanwhile, this zone retains solid support, and there are EMAs nearing these levels to add to the strength. However, for sellers to push for a corrective round, price must break below this level; only then would price initially press lower back into the mid-ranges.