Blue lines- trading range
Bitcoin is trading around $28,200. Short-term trend remains neutral as price has made no real progress over the last few trading sessions. Price is still trading inside the $29,000-$26.600 range. Traders better remain cautious as price is trading very close to resistance. Price so far has tested the $29,000 level more than three times, confirming the importance of this resistance level. As long as price does not break the resistance, price will be vulnerable to more downside towards $26,600-$27,000. The RSI is also in the middle range neither overbought nor oversold. Since the technical picture is not so clear, traders better remain cautious and neutral.
