Bitcoin has been trading sideways for about a month now, and soon it can be called an expensive stablecoin. However, there is a clear technical picture.
👀 Let's conduct a technical analysis:
When an asset is trading in a sideways trend for a long time, stop collection points (liquidity) appear on the chart. We currently have a low price range of $25,200 (primary) and an upper price range of $26,500-$28,000.
Very soon the price should move with an impulse in one direction. I give preference to a breakdown of the lower border - $25,000 and below. Once all stops in the $24,000-$25,000 range are met, further movement to the upper block of $26,500-$28,000 can be expected.
For now, I am only sure that there will be momentum, the deadline is until the end of September. I will watch the breakdown of the lower border, for now it’s the only thing that interests me. If we go below $25,000, then the ~$24,000 range will be good for speculative purchases.
*A speculative buy is a short position using stop losses.
