- The bulls are in control of BTC/USD at the moment but the price has consolidated.
- The price has now moved into a large consolidation zone on the hourly chart.
BTC/USD hourly chart
The price action on the bitcoin hourly chart below shows the extent of the battle between the buyers and sellers at these elevated levels.
Between $9,140 and $9,619.95 we now have an area of consolidation and a break in either direction could be pivotal.
The price is still above the 200 hourly simple moving average which is a positive sign.
On the daily chart, the price waves are still making higher highs and higher lows.
Even on the daily chart this area we are currently in looks sticky from a technical perspective.
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