This entry is part 3 of 31 in the series Technical Analysis by Workin

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.

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!


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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  1. Yanika

    My friend keep in touch~! Just keep in mind, watchin it from Swarlbard island , next to the North Pool! Visiting here my partners Russians+Norwegians. It is actually very interesting territorry to know, looks like even pre hstoric before, where the cold East meets democratic West, but nowaday, just FYI The East Russia is very democratic. Woow, your, keep in mind I am on the top of the world, two-three Russian-Norwegian stores, some products, both communitie support each other, to have products for the people.We ook so much united!
    So now I am in such place, wherein I see humankind unites againts the frost, the bad wetter, and unhuman work conditions!
    We are again united, respect!