As bitcoin price closes out another weekly candle, traders and analysts are scrambling to predict its next move. The longer BTC consolidates, the larger that move is likely to be, and it could be coming soon.
Yesterday’s retest of $11,000 was very short-lived. Bitcoin price fell back to record an intraday low of $10,330 which was tested a couple of times. BTC recovered to reach $10,600 where it has consolidated for the past 10 hours or so. Daily volume has also dropped back to $16 billion as ranges get tighter.