With Bitcoin's current consolidation nearing completion (confirmed by the declining volume), it's time to prepare for BTC's next move. Three potential outcomes are:
Save crucial space on your Trading View chart by utilising the free RSI and StochRSI indicator which overlays both in a clear and helpful fashion.
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- Break up to continue a bull run up to $12,000
- Break down to $8,600, but hold the previous downward resistance line as support before moving back up for another attempt to pass $10,000
- Break down and fall back within the previous long term downward structure. This would likely mean another test of $7,000 support.
Save crucial space on your Trading View chart by utilising the free RSI and StochRSI indicator which overlays both in a clear and helpful fashion.
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
Note
Note
Potential breakout to the upside
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.