It's a time of indecision for Bitcoin. The price is in a short term channel [turquoise lines] for 24 hours now.
The view over the next few days is a zone between $8470 to the upside and $7700 on the bottom. Closing a candle outside of either of these bounds represents a change in the current situation.
A close above 8470 would open the door to $8892 - $9016 where there is heavy resistance to the upside.
A close below 7700 opens a trapdoor and is an invitation to revisit the area of 6514 to 6464 with little support elsewhere on the way down except for the area of $7050.
The swing trading zone is bounded by the short term channel [turquoise lines] for short term traders.
All statements and expressions I offer are my opinions, and not meant as investment advice or solicitation. Information provided is not personal investment advice. Seek guidance from a professional investment advisor before trading or investing. Trading cryptocurrencies can be a potentially profitable opportunity for investors. You should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose. I am not a registered investment advisor.
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