When Will Bitcoin Finish this Consolidation Phase?

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In Brief
  • Bitcoin is facing resistance from the 50-day MA and the $9,250 level.

  • The price is following a long-term descending resistance line.

  • Bitcoin is possibly trading inside a descending wedge.

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On July 15, the Bitcoin (BTC) price fell below an important moving average (MA) and $9,250 level, which has previously acted as both support and resistance. The price managed to slow the bleeding and even made another attempt at moving upwards. However, it has yet to reclaim either the MA or the previous support area. Bitcoin Treads Dangerous Waters The Bitcoin price is trading below
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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