Bitcoin has been consolidating around $64,000.
It has converged with the moving averages on both the 12-hour and 6-hour charts.
Given that it’s Sunday, we might start seeing some movement soon.
Personally, I anticipate a downward movement.
While all charts have converged, the overall trend seems to be turning downward, lacking significant upward momentum.
In this state, even a slight piece of news could serve as a catalyst for a decline.
Since most people are anticipating an upward trend at a ratio of 7:3, it might not gather enough momentum for an upward movement.
The distribution of price trends also favors a 7:3 ratio for upward movement.
It’s rare for both to be at 7:3, mostly favoring an upward trend.
It’s intriguing how my direction is completely opposite, making the future outcome uncertain.
The initial movement of next week will be crucial in determining the direction.
Let’s keep an eye on it.