Bitcoin Is Ready For A Big Move | Be Prepared For A Price Breakout Soon.

Bitcoin has been trading in $6300-$6500 for last 3 days and this range has becoming tighter with each minute passes. We generally dont see much volume in the market on Weekends and that's why Bitcoin was trading sideways since last 2 days. But now the weekend is about to over, we can expect some huge moves into Bitcoin very soon. This coming week will decide the overall trend of Bitcoin.

So, what are the probabilities of trend going Bullish or Bearish?

Well, let's have a look at the chart to know the same and discuss the probabilities:

As we can see in the chart, Bitcoin hasn't made any particular pattern on daily chart and only the uncertainty can be seen in last 7 days candles. One thing is sure that Bulls have very less momentum left otherwise we would have already seen some Bullish movements in Bitcoin by now.

• So, If Bitcoin moves up from current position, the first resistance would be $6630 and then $6800 as we have seen in the past. A rejection is likely from $6800, although a touch of $7000 might be still in play. 
• On the down side, If Bitcoin dumps from current price, we can expect first support around $6250 and then $6000, If all these support breaks, we would likely to fall within early $5000 price level.
• Volume is dropping significantly, indicating a big move ahead.
• Probably a long term Head & Should pattern is also in play and very likely to happen if Bitcoin goes Bullish for short-term.

Thanks for reading ...!!

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