Bitcoin has been ranging from 7,800 to 9,000 for almost a week now. The range is getting narrower and so is the volume. The sideway movement had resulted the downtrend to halt and at the same time, the price had gone out of the downward channel. To confirm that the currency had ended it’s bearishness, it must first break above the range of 9,000-9,500. It is best if it could test 10,000. However, with the current volume, it is not easy unless buyers are coming in.
This is a 4 hour chart from Tradingview Coinbase data. Put an eye on the support of 7,800 and resistance of 9,200. A break above or below could indicate the next movement, if the volume is convincing too.
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