Bitcoin Bullish Consolidation Under 20k Resistance

Dec 8, 2020

Bitcoin is currently consolidation under 20k resistance. Seemingly some fuel is building to send price well above the 20k level but it may not happen immediately. There is a scenario where price continues to move sideways just under the all important 20k level. Another scenario would be another large pullback into the 17.2k level which would almost guarantee enough fuel to send us well above the 20k resistance. Either way we won't know until the wedge that is currently forming on the daily chart resolves itself.