Crypto Daily – ($BTC) price action is continuing to move in a range between $91,000 up to $100,000. With long term momentum indicators needing to reset, and the market requiring time to absorb the surge to the all-time high at $108,000, a holding pattern is the most likely short-term path for Bitcoin.
Bitcoin follows sideways range
Patience is going to be required in large measure when holding Bitcoin for these next few weeks. The most likely scenario is for the king of the cryptocurrencies to continue marking time while momentum indicators on the longer weekly and 2-weekly time frames come down and reset.
Of course, the market is the market, and there can still be price spikes to the up or to the downside. However, this may be contained within the range that Bitcoin is currently traversing inside, stretching from around $91,000 at the bottom, to $100,000 at the top.
Source: TradingView
The range is pictured in the short-term 4-hour chart above. It…
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