🔍 Unveiling the Puzzle: Why is Bitcoin price stagnant amid SEC lawsuits? And what's the next catalyst for a surge?
📉 BTC price remains stuck at around $26,690 despite SEC lawsuits against Binance and Coinbase.
📊 Technical barriers: 200-day EMA ($25,270) acts as strong support, while 50-day EMA ($27,220) prompts profit-taking, trapping BTC in $25K-$27,220 range.
🐻 Cautious bears: Lower volatility during SEC lawsuits, anticipating Fed's potential rate hike pause decision on June 16, which could benefit Bitcoin.
📈 2023 prospects: Long-term bias bullish if 200-week EMA holds. Bull flag indicates potential breakout to $35,000, but decisive breakdown may lead to $20,000 support.