The price of bitcoin has been floundering back and forth for a couple weeks now and there is plenty of evidence on why it may fall, but it is also building a case of late on why it will rise. ## Digesting the prior move before the next leg  Above we see a weekly view of the bitcoin price chart. After the rally from the 3,500 area price has essentially consolidated for three weeks after the big doji candle (indecision candle). Basically stuck between 9,800 and 8,400 price has felt like its done nothing of late. I would argue it has done a lot because I honestly thought we would have saw a pullback to 7,500 by now before the next rally. It seems price has been able to just sit in a sideways range consolidating for the next move. This doesn't mean that the move will be higher, but either way I expect there to be a explosive move in whichever direction it breaks. Upside break out target on a weekly view is 11,500. Downside breakout target on weekly view is 6,800 Either way I'm ready for some price action! Posted Using [LeoFinance](https://leofinance.io/@scaredycatguide/bitcoin-price-is-consolidating-on-the-weekly-chart-and-giving-bulls-more-hope)
| author | scaredycatguide |
|---|---|
| permlink | bitcoin-price-is-consolidating-on-the-weekly-chart-and-giving-bulls-more-hope |
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I'd love to see a dip to $7,600/$6,800. Been waiting for it for a couple weeks now. Hopefully it's on the way.
| author | jrcornel |
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Agreed, those are the levels I have been talking about on the scaredycat investor show past couple weeks. I solid pieces of BTC at 10,000, 9,600 and 9,400 with the plan to buy back at that level.
| author | scaredycatguide |
|---|---|
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A part of me wants to see $6800. I’ll be happy either way for the opportunity to buy more or the opportunity to take profits and buy back later Posted Using [LeoFinance](https://leofinance.io/@khaleelkazi/qb81dp)
| author | khaleelkazi |
|---|---|
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Yeah, I'm sitting in that same mindset too
| author | scaredycatguide |
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