BITCOIN Consolidation Wedge Getting Tighter At $6,450

Bitcoin has been settling down into a consolidation wedge pattern with tightening toward the $6,450 level. I was expecting a bull break by now. The consolidation pattern coming off of a bear move is a little concerning and places me a little bit more cautious and wary.

We should be looking at a break here before too long. Volumes on the hourly seem to have hit a peak low and are now slowly coming back. Any major volume will push this breakout in a certain direction.

Last time we saw BTC get this oversold, prices nearly doubled. On the last pullback, we saw consolidation at the bottom and a huge bull rally step in.

Sit tight, updates will be posted as we start seeing more action.