Bitcoin has not experienced any substantial market movement since June 4.
The world’s leading cryptocurrency has been fluctuating between $7,440 and $8,100 from the last seven days. The move has established a strict $600-wide sideways pattern, which is offering day traders plenty of opportunities to enter and exit the market on smaller profits. The bulls so far have failed to secure a breach above $8,100, now a crucial resistance level of the sideways channel. At the same time, the bears have struggled to execute a similar action below $7,440.
Bitcoin Price Hinting Stable Action in Coming US Session | Image Credits: TradingView.com
The bitcoin price, for now, has entered a bias conflict zone, wherein its probability of trending sideways is growing higher in the absence of stronger volume. Traders are waiting for big whales to set the next course of bitcoin trend. But nobody exactly knows the direction the price would pursue: north or south Read more