Bitcoin Consolidating

1 Haz 2021

Bitcoin is maintaining an ever narrower range. It faced some headwinds this weekend, taking it back to 33K, before consolidating around 36K. We appear to have a pennant pattern forming, which suggests a breakout soon. Due to the previous bear trend, this pattern is likely to break down, rather than up, unless we get a surprise wave of buying. We will again see support from 30K, which seems to be a lower bound but the more comfortable Bitcoin gets testing 30K, the more comfortable it is to break this level and test the 20K's