Bitcoin Price Analysis: Range-Bound Market Set for Bullish Continuation

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Summary:

  1. The bitcoin market has been range-bound over the last week and a half and is now seeing consolidating volume and a consolidating price structure.
  2. The consolidation within our current range is forming an ascending triangle with a $500 move to the upside and a price target of around $10,000.
  3. However, a failure to break out to the upside can also have a $500 move to the downside and would have the market targeting a price of $8,700 on the support below.

Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This price analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Inc sites do not necessarily reflect the opinion of BTC Inc. They should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

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