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.
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.
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