Bitcoin remains firmly in the middle of its almost two-month-long sideways channel following weekend declines, during which it dumped below $66,000 briefly.
“Momentum remains tentative, with lower highs still defining the short-term structure,” commented on-chain analytics provider Coinglass on Monday.
The analysts noted that the market appears to be transitioning from “active distribution towards a more neutral footing,” however, there is still “limited conviction” at current levels.
“While conditions remain fragile, easing sell-side pressure and stabilising flows suggest the groundwork for a potential recovery is forming, though stronger demand is still required to confirm a sustained shift.”
$BTC broke back below $70k before finding support near $65k, with a modest rebound back towards $67k into the weekend. Momentum remains tentative, with lower highs still defining the short-term structure.
Read more in this week’s Market Pulsehttps://t.co/2YkGjsdzkQ pic.twitt
We współpracy z: https://cryptopotato.com/groundwork-for-potential-bitcoin-recovery-is-forming-say-analysts/
