Bitcoin continues consolidating right on top of the 0.786 fib level. It’s been testing the top of what appears to be a falling wedge, but has yet to break out above. Volume remains weak.

In today’s video analysis I discuss, where price may be heading next, a possible trade setup I’m preparing for, traps to avoid and so much more. I hope you find it helpful.

Video Analysis:

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!


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      1. Candy Man

        Oh well, I will just keep making these bags heavier and heavier, haha. I don’t stress much cause my real life job pays for the bills. I would never dare to day trade for a living, stress would kill me XD

  1. CryptosDecrypted

    This helped crystalize my current stance of BTC. I’m really tempted to put a hedge trade on right now with tight stops on both and ride the movement up or down..but of course, the bots will very likely spike me out first…excellent TA as usual. lol nevermind it just moved (would have taken me out) back to the charts!

    1. Workin2005 Post author

      I think it’s preparing to make a larger move Peter. As I pointed out in my latest video, I’m looking for a temporary bounce around $3,300-$3,250. We’ll see. If $3,200, is broke, I think btc will likely drop to at least $3,000.

  2. Nicholas

    So, i cant imagine, why sell the people the BTC. This lead to the falling, people have to give smaller and smaller price to the orders. And they are loosing. Instead of holding, and waiting for the next north wave, or just simple using the btc in everyday life.