Bitcoin’s Consolidation Phase is About to Break Records, But It May Not Last Long

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Bitcoin’s intense multi-month consolidation phase is currently approaching record territory Throughout the past several years, BTC has seen multiple consolidation phases in which its price fails to post any movements greater than 5% for an extended period. That being said, in just a few days the crypto will have set its most prolonged bout of compressed trading seen in several years In the past, all these bouts of lackluster trading have been followed by large movements Rising OI and sidelines investors ready to flood back into positions could help trigger the next big movement Bitcoin’s consolidation phase has been narrowing as of late, with buyers and sellers now holding the crypto between a tiny $200 range. The lower boundary of this channel sits around $9,100, and the upper boundary sits at $9,300. The cryptocurrency’s consolidation bout has now persisted for over three months, and it remains unclear as to when…

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