Price analysis

The consolidation within our current bitcoin price range is forming an ascending triangle with a $500 move to the upside and price target of around $10,000.

If the market breaks support, the next logical level for the bitcoin price to test is at the $8,700s — the range that led to last week's massive breakout.

A $1,500 candle proved bullish resolve for the bitcoin price as the entire bearish drop that occurred this week was engulfed.

The currently monthly bitcoin price level is below support and could potentially see lows as far down as $6,400.

The bitcoin market over the last few days has been a series of grinding support/resistance tests that have brought us toward macro support at the $7,700s.

For now, the market is looking mid-term bearish and we will have to see how it handles a potential retest of the $7,700s.

Last night, the bitcoin market saw a strong breakout get immediately rejected as selling pressure shoved the breakout down from $8,800 to $8,200s

The bitcoin price is experiencing a strong rally that has us testing the strength of the $8,300 resistance level.

In this episode, Dave Hollerith talks with Nathan Hadley, a.k.a. Bitcoin Schmitcoin, to hear what it's like to be a bitcoin price analyst.

The bitcoin price is currently bound within a zone of indecision and we will have to assess the market as it tests either the upper or lower boundary.