Bitcoin has been stuck in range for a while
Looking at the daily chart on Bitcoin it is obvious of the tight range price has been stuck in for around 30 days now.
22k is the resistance that one would want to see price back above to get any excitement for a bitcoin rally. Until that happens expect to see price in this range for maybe a while longer.
The positives for the Bitcoin bulls would be that it appears price is going to try again to break through in the coming days. Of course this does not guarantee a long run is coming but it is the first step I would want to see before I can at least look at Bitcoin with any sort of bullish view.
Of course we can see what happened the most recent time price was going sideways, I highlight the breakdown of that support level on June 11 and 12th. Price will need to hold the low end of this channel or it is possible we see a similar thing happen here.
22k is the resistance that one would want to see price back above to get any excitement for a bitcoin rally. Until that happens expect to see price in this range for maybe a while longer.
The positives for the Bitcoin bulls would be that it appears price is going to try again to break through in the coming days. Of course this does not guarantee a long run is coming but it is the first step I would want to see before I can at least look at Bitcoin with any sort of bullish view.
Of course we can see what happened the most recent time price was going sideways, I highlight the breakdown of that support level on June 11 and 12th. Price will need to hold the low end of this channel or it is possible we see a similar thing happen here.
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