Bitcoin continues trading within a very tight range. As I said in my prior update, there are no more guppies for market makers to take advantage of. We’ve finally reached a flatline in price. I don’t expect this to last much longer. Price is currently trading within a small wedge, suggesting an upcoming larger move.
Zooming out on the 1 week chart, we can see price has finally reached the larger, ascending support line that was established back in March of 2017.
The 1 week chart also reveals a tightening of the Bollinger bands, as well as the 8, 21 and 55 day EMA all converging.
In today’s video analysis I discuss, where price may go from here, traps to avoid, trading this market and MUCH more. I hope you find it helpful.
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!
Disclaimer: I am NOT a financial advisor and this is NOT financial advice. Please always do your own research before investing.
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