Bitcoin's price action is currently in a consolidation phase, with its next significant move dependent on breaking key technical levels. Favorable macroeconomic conditions, including easing U.S.-China trade tensions and a Federal Reserve rate cut, are creating a supportive environment for risk assets like Bitcoin. However, the cryptocurrency's trajectory will be determined by its ability to decisively move past the 100-day moving average (MA) or maintain support at the 200-day MA.