Bitcoin price consolidates as traders contest the $18.2K to $19.5K range

After an impressive run to a new all-time high on Dec.1, Bitcoin (BTC) price appears to have entered a short consolidation phase as the price ranges between $18,200 and $19,500. 

The 1 and 4-hour charts show the price compressing into a pennant-like structure and break out from the pattern would likely see the price move to the $19,400 level where is a bit more resistance.

BTC/USDT 4-hour chart. Source: TradingView

A breakthrough the pennant would also suggest that the $19,000 level could now…


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