Bitcoin (BTC) is again trading in a narrowing price range above $6,400, but the lateral trading may soon give way to a rally, according to technical studies.

The price consolidation comes after Monday’s big spike to three-week highs above $6,800, which weakened the bearish case put forward by last Thursday’s violation of key support.

So far, however, a bullish follow-through has not materialized, possibly because buyers are waiting for a more credible evidence of bearish invalidation.

Continue Reading on CoinDesk

Like this: Like Loading...