#ProgramOpinionLeader# BITCOIN consolidating? At the beginning of this year we saw BITCOIN consolidate for over 20 days before moving higher and reaching new heights. We would appear to be in another period of consolidation with price stuck beneath the 200 EMA and strong support below. The 200 EMA is significant and presents a severe test for BTC BULLS. As long as BTC remains under the 200 then the BEARS will control this market and drive the price down to the support area shown. This support area is key to BITCOINS future direction. If price moves below this area then BITCOIN is in trouble and likely to reach out to 38.2 Fibonacci for support at 25,800 and possibly 23.6 support at 16,000. However, should the band of support between the 50 Fibonacci and blue support line shown at 29,800 hold and the BULLS can gain a foothold we could see BITCOIN use this support to push through the 200 EMA and ultimately head for the historic high just under 65,000.