Fast forward two months, and we get BTC at $59,480. Its position relative to the Bollinger Bands is still pulling the cryptocurrency toward the lower of the two. Looking at the trends of the last two months, you can actually see that the first cryptocurrency traded mostly sideways.
Yes, there were large liquidations and declines, as well as gains of more than 10% within a week. However, as a result, the price did not really go anywhere.
In fact, it even lost, reducing to zero all the actions of bullish players on the market during that time.
Ahead of the market is waiting for the closing of the weekly, monthly and quarterly candlesticks at the same time, and it will all happen on Sunday, Sept. 1. Where Bitcoin will be on that day – above or below this line – will largely determine the future direction of its price.
This article was originally published on U.Today
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