Bitcoin update, consolidation
BTCUSD is trading in a narrow channel between $8300 and $9000. Neither the bulls or the bears has managed to break out.
Indecisive markets have a tendency to consolidate in a narrow range before breakout. I am looking for 4hour closes outside of the channel , so a close above $9000 or a close below $8300 will be an indication of the direction further.
This is not financial advice, I am just sharing my analysis of the market.
Happy trading!
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