Bitcoin is trading around $27,825 after getting rejected once again at the upper trading range boundary. There is no clear trend in the near term as price is mostly moving sideways between $29,000 and $26,700. Price is now making lower lows and lower highs on an intraday basis. Price seems vulnerable to a move towards the lower range boundary where we find short-term support. Traders better be patient and cautious.
The material has been provided by InstaForex Company – www.instaforex.com
Blue lines- trading range
Bitcoin is trading around $27,825 after getting rejected once again at the upper trading range boundary. There is no clear trend in the near term as price is mostly moving sideways between $29,000 and $26,700. Price is now making lower lows and lower highs on an intraday basis. Price seems vulnerable to a move towards the lower range boundary where we find short-term support. Traders better be patient and cautious.
The material has been provided by InstaForex Company – www.instaforex.com
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