Bitcoin is moving sideways. This trend can remain steady for quite a while if no large volume of transactions takes place. The bull and bear can remain equally strong that will cause the chart to move horizontally even longer. Target H: $10500 L: $8000
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Theory:
Technical analysis employs models and trading rules based on price and volume transformations, such as the relative strength index, moving averages, regressions, inter-market and intra-market price correlations, business cycles, stock market cycles or, classically, through recognition of chart patterns.
In finance, technical analysis is an analysis methodology for forecasting the direction of prices through the study of past market data, primarily price and volume.
https://en.wikipedia.org/wiki/Technical_analysis
