The post Why is Bitcoin Trading Sideways; This is When it May Trigger a Gaint Move! appeared first on Coinpedia Fintech News
The Bitcoin price continues to trade sideways just above $27,000 as the bulls and shorts find it pretty difficult to break the impasse. Ever since the price marked its monthly high close to $30,000, it has been trading within a narrow descending triangle. Moreover, the price has been trading along the lower support of the triangle, attempting very hard to trigger a fine rebound.
Regardless of the trend, the trading volume has been maintaining lower levels, suggesting that fewer traders were involved in intraday selling and pulling higher. Moreover, all the technical indicators pointed toward the ongoing conflict of biases among traders. Alongside the same number of buyers and sellers, the next price action for Bitcoin remains unsure. As a result, smooth price movements in the Bitcoin market are possible only in cases of extreme volatility caused by major events
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