TokenDices

  • Market Cap: $2,572,108,289,922.26
  • 24h Vol: $79,732,962,741.93
  • BTC Dominance: 50.83%
Bitcoin traders face dilemma: Should they anticipate a breakout or brace for a $28K dip as BTC price stagnates?

Bitcoin traders face dilemma: Should they anticipate a breakout or brace for a $28K dip as BTC price stagnates?

– Bitcoin’s price remains below $31,000, with bulls waiting for a catalyst.

– BTC/USD is trading in a tight range and attempting to break the $31,000 resistance level.

– Some traders believe that frequent testing of resistance weakens it and expect the $31,000 sell orders to be filled soon.

– Others anticipate a downside move to $28,000 if the resistance is not broken.

– The June monthly close saw Bitcoin closing above an adjusted volume-weighted average price (AVWAP) for the first time since the 2021 all-time highs.

– Market observers are encouraged to have a longer time preference and focus on higher highs and higher lows.

– This article does not provide investment advice and readers should conduct their own research.