Price at bitcoin reached the lower limit of the global triangle, volumes decrease, everyone is cautious, those who are in short positions are in no hurry to close in hopes of spilling prices below $7000 and bulls also see that the market is weak and in no hurry to buy.
Now there are three prospects: the first, if the price breaks from supporting upwards and goes on weak volumes - this is a bad sign, most likely it will be a bull trap. The second option: the price will be poured down to $7000 and shattered on volume and will go into growth - this is good since it will be clear that there are buyers ready to keep the level around $7000 and protect it. Then the shortist will begin to cover the position in "BUY" which will be the fuel for growth. The third option is a breakdown on the volume of the lower boundary of the triangle + mirror, the so-called retest of the breakdown zone. This will speak of the continuation of a downward movement around the area of $4,500.
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Comment:
The chart shows how the price broke off from the lower border of the triangle, but the volumes are declining. Now there is a consolidation before the level of $7,800, to continue the growth, the price should overcome this level, but before that there can be a squeeze down to the $7200 zone. If the calculation is for growth, then it is logical to buy bitcoin, but with a stop for the next loy at $ 6850. In general: be part of the crypto, and part of the bucks rational strategy in an uncertain market.