BTCUSD — Consolidation Range, No Active SetupBitcoin all time history indexINDEX:BTCUSDCK_SwingBTCUSD — Consolidation Range, No Active Setup Bitcoin has been trading in a defined range roughly between 65,000 and 74,000 since early February. The structure is visible and intact — neither broken to the upside nor to the downside. Price is currently near the upper end of the range. What I notice on volume: over the last several trading days, it has declined gradually — each session slightly quieter than the one before. No spike, no surge, just a slow fade. Whether that resolves into continuation or a pullback back into the range is open. One context that stays relevant: in my January 6 analysis I laid out a bearish scenario for this cycle. That view has not been invalidated. A further selloff into the Golden Pocket area or deeper toward the 70–75% correction target remains possible at any point. The current consolidation neither confirms nor rules it out. In the background, the institutional infrastructure keeps expanding. Morgan Stanley launched its own spot Bitcoin ETF (MSBT) on April 8 — the first time a major U.S. bank has issued one directly under its own name. Fee: 0.14%, below BlackRock's IBIT. Whether that moves the needle for price in the near term is a different question. It doesn't change the chart. My read: nothing has happened. The range is holding. I hold Bitcoin as a long-term position and am currently active in very small size trading position. I am primarily watching. --- I hold a long position in BTCUSD at the time of publication (long-term portfolio and a very small trading position). Private individual / private trader | No investment advice Full disclaimer: ckswing.de/disclaimer