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.
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Potential breakout to the upside
