Cryptocurrencies

Bitcoin Analysis: Consolidating Before Next Move

Bitcoin has been consolidating on top of major support at $7,500. It seems to be getting squeezed within a small wedge, currently trading around $7,700. Daily volume has died off a bit as traders are waiting for the next move.

Screen Shot 2019-06-06 at 10.19.37 AM.png
Screen Shot 2019-06-06 at 10.24.31 AM.png

We’ve now seen a daily candle open and close below the 21 day EMA.

Screen Shot 2019-06-06 at 10.20.00 AM.png

Long and short positions are both dropping, suggesting a lack of confidence in direction.

Screen Shot 2019-06-06 at 10.20.34 AM.png
Screen Shot 2019-06-06 at 10.21.12 AM.png

In today’s video I discuss where price may be heading next, buy and sell targets, traps to avoid and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.

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.

Workin

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