Summary:
- The bitcoin market has been range-bound over the last week and a half and is now seeing consolidating volume and a consolidating price structure.
- The consolidation within our current range is forming an ascending triangle with a $500 move to the upside and a price target of around $10,000.
- However, a failure to break out to the upside can also have a $500 move to the downside and would have the market targeting a price of $8,700 on the support below.
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