Bitcoin Technical Analysis: CONSOLIDATING BEFORE NEXT MOVE

Since my last update we’ve seen 2 small stop hunts. Price briefly broke down to $3,650, then promptly returned to $3,800. It then quickly jumped to $3,910 before promptly returning to the $3,800 support. This kind of thing is often seen prior to a larger move.

Zooming in on the 4 hour chart, we can see the Bollinger bands are extremely tight. The 8, 21 and 55 day EMA’s have converged almost on top of each other. This is another indication price is getting ready to move.

In today’s video analysis I discuss, where price may be heading next, traps to avoid,

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