The funny thing about the title to this post is that consolidation and indecision on a price chart can essentially be one and the same.

After the strong move up to new all time highs we have seen bitcoin trade in a range, albeit a 12K range, a range nonetheless.

When we see a big move higher there isn't anything wrong with some consolidation and that is what we are seeing when you look at the weekly chart.


 https://img.inleo.io/DQma9yDUjefF5bcaLpgx4BWCV2KSocReDfb16h8htKex6Be/image.png 

That big red doji candle (indecision) following the big move up was a little worrisome but then it was followed by a hammer candle with price rallying off the lows the following week.

Since then we have a small week up and a small move down to start this week.

What I am seeing in all this is the fact that the 10 period average is slowly catching up to price as we have this back and forth.

In my eyes that's a good thing.  Look back before the last big up move, you can see price was finding sideways an touched the 10 period for a couple weeks before taking off.

Does this mean it will happen just like that again?  No, it does not.  It does generally mean that price is no longer overbought when it happens though, which lends toward the scenario of price being able to go up.

Should be interesting as the halving is coming up by the time price would be in an oversold territory based on the Stoch RSI.

Posted Using [InLeo Alpha](https://inleo.io/@scaredycatguide/bitcoin-weekly-chart-consolidation-or-indecision)