Bitcoin Analysis: Consolidating Before Next Move

Bitcoin has been consolidating on top of major support at $7,500. It seems to be getting squeezed within a small wedge, currently trading around $7,700. Daily volume has died off a bit as traders are waiting for the next move.

We’ve now seen a daily candle open and close below the 21 day EMA.

Long and short positions are both dropping, suggesting a lack of confidence in direction.

In today’s video I discuss where price may be heading next, buy and sell targets, traps to avoid and so much more. I hope you find it helpful.

Video Analysis:

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About the author: Workin 2005

Crypto: Hated by governments, banks and dictators. Loved by all those who believe in true freedom. Retired airline pilot...full time crypto enthusiast. #Freedom