Market Update

Let's draw simple trendlines to try and figure out what the next market moves could be. As it can be seen from the chart below, the BTC price moves from the small and steep yellow triangle into a much bigger and shallower white one, and as we get closer and closer to its apex, the market volatility drops to such a degree, that the daily price bars barely move against each other. The good thing about our current situation is that we are very close to a breakout in either direction.

If we break to the upside, we have a $26K + white triangle price target. If the break out is going to be down, then we will get into the hands of a much larger and even more shallower red triangle with its bottom side @ ~ $4K.
https://www.mql5.com/en/charts/8482596/btcusd-d1-simplefx-ltd

The current volatility implies a range of targets to the downside between $7300 and $7950 provided we have a daily close below $8566. On the other hand, a daily close above $8765 implies a continuation to try and test $10K.
https://www.mql5.com/en/charts/8482608/btcusd-d1-simplefx-ltd