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BTC SHORT TERM ANALYSIS

Bitcoin has been Consolidating for 7 days and hasn't moved much so far. There are no clear signs whether it'll continue to rise or fall

in the last 7 days, BTC has only moved 2-3%, and still lacks volume, which is why most of the coin is on pause

This bear market is getting more and more boring with each passing day. There are only two scenarios: Breakout of the ascending channel to the upside or breakout to the downside, as this pattern is a 50/50 chance or an uncertain move.

Possible support is at 16500, if it's breached we can expect BTC to fall back to the 15k range, but for now we can get back to the never ending waiting game .

the supports are weakened every time they're tested. So if we continue to fall back to the 15500 support, it would lead to a further decline in the price of BTC.

Disclaimer this isn't financial advice What I do is very risky and nobody should copy me.

Reminder: the trend is your friend.

Don't have a good day have a great day.

Blog Author: John Daele Bandilla