Denys Serhiichuk's Bitcoin Technical Analysis: Consolidation Likely to Persist

According to technical analyst Denys Serhiichuk’s market assessment, Bitcoin remains locked in a consolidation pattern despite recent upward movement. Currently trading at $82.96K after a -6.02% correction over the past 24 hours, BTC faces a critical technical juncture that will determine its next major direction. The cryptocurrency’s recent price action reveals weakness at key resistance levels, suggesting that sideways trading may continue through the near term.

Support Levels Under Pressure

The immediate challenge for Bitcoin buyers emerged when the cryptocurrency broke below a recently established support zone. Denys Serhiichuk’s analysis highlights how bullish momentum faltered after an initial upside candle, leaving market control in limbo. Neither buyers nor sellers have managed to establish decisive momentum, creating an environment where neither side can confidently push price in their direction. This indecision is particularly evident when examining multiple timeframe perspectives simultaneously.

Low Volume Signals Extended Consolidation

Trading volume patterns provide crucial context for understanding Bitcoin’s near-term trajectory. The relatively thin volume suggests that a true breakout remains unlikely in the short term, with consolidation between the $27,000-$28,000 zone being the probable outcome through week’s end. According to Denys Serhiichuk’s assessment, such low participation typically precedes either a significant directional move or prolonged ranging action. Given current conditions, the latter scenario appears more probable, keeping BTC participants in a holding pattern.

Key Level for Bullish Confirmation

Bitcoin’s next meaningful milestone arrives if prices reclaim and stabilize above the $29,000 resistance area. Only a sustained break above this level would validate a potential intermediate-term recovery scenario that buyers have been anticipating. Until that confirmation arrives, Denys Serhiichuk suggests treating the current consolidation phase as the base case, requiring patience from market participants waiting for genuine directional clarity in Bitcoin’s price structure.