Despite seeing most fx pairs strengthen in favor of the Dollar, in crypto land Bitcoin remains firm above its $38,000 support. Dollar is gaining against all major currencies but not against Bitcoin. At least not yet. Support is being defended and this continues to give hope to bulls.
Bitcoin has been moving mostly sideways inside the blue trading range as shown above in the Daily chart. Price right now is just above the lower range boundary. Short-term trend remains bearish since the end of March. Medium-term trend is neutral as there is no real progress in price. Bitcoin price seems to respect the lower boundary of the trading range but we have no reversal signal yet.
