Blue lines- trading range
Bitcoin continues to trade sideways inside a trading range it is in since mid March. Price today is trading around $27,900-$28,00 after getting rejected once again at the resistance of $28,885. Bitcoin is vulnerable to a move lower towards the trading range support of $26.700. The RSI is neither in oversold or overbought territory. Keeping in mind that the previous trend was bullish, this sideways action looks like we are forming a bullish flag pattern. This means that there are higher chances of breaking to the upside than breaking below $26,700.
