Bitcoin Price Forecast – Bitcoin Continues to See Sideways Action

Bitcoin Technical Analysis

The Bitcoin market has been a bit stagnant over the last 24 hours as we continue to bounce around in the same trading range. The $62,000 level above continues to be resistance, while the $57,500 level underneath continues to be support. With that in mind, I think we’ve got a scenario where the market is just simply trying to figure out what to do with itself.

This is not a very dynamic market at the moment, and therefore I think you’re probably going to continue to see the market wait around for some reason to move been remarkably flat since the ETF if you really look at it it’s a fairly wide range that we had been in previously but we really haven’t gone anywhere it seems like Wall Street owning it has actually been a bad thing yeah that’s not a huge surprise it goes against everything that Bitcoin was supposed to be and now it’s just an asset for Wall Street managers to sell their clients so with that being

I’m not real sure what to make of the market longer term, but clearly, it’s not very urgent right now. And I think although it will probably be positive over the longer term because it will start to behave like an index, the reality is I think the idea that Bitcoin is going to take off and start shooting straight up in the moon is possibly a fantasy but think it might be more of a gradual kind of buy-on-the-dip grind away type of situation to the upside.

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