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.
We’ve now seen a daily candle open and close below the 21 day EMA.
Long and short positions are both dropping, suggesting a lack of confidence in direction.
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.
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.
