Hi traders, Bitcoin is testing support at a key level but looking quite bullish (nope).

Here's why.

Bitcoin.

• We're still very much in a bear market with Bitcoin consolidating inside a massive descending triangle;

• The price is currently attempting to climb back into that consolidation range between $9,5k and $11k;

• On a smaller time-frame we can clearly see that we're currently testing support at the bottom range of the consolidation channel;

• If support holds, I'll have selling targets at around the $10,500 area or at resistance near that descending trendline, whichever comes first. Remember, in a bear market with lots of bag-holders, you want to run tight targets for your trades;

• If support breaks, I'll probably cut out early and rally into cash where I'll wait for a better entry.

If you'd like more content like that or if you love crypto in general, come join our awesome community on Discord here, it's free!!

Also, go check out my new feature review with @deanliu, this time on the Tezos project.

Cheers,

Dan.

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