MARKET WRAP: $BTC was higher Monday although still trading flat with underlying support. GWilliamsJr_CMT and _jocelynyang_ report
discussed a potential uptrend because bitcoin had been reaching a series of “higher lows,” implying that buyers are willing to acquire BTC at higher prices.
Investors may not have to abandon hope for a resumption of an uptrend, although price action seems to favor sideways trading. While prices on the hourly chart have breached the top end of the Bollinger Bands, BTC’s daily chart shows its price is situated within a close range of the median price. Today’s activity may be merely pushing BTC back to a recognized average and is not providing a catalyst to push it significantly past its current level.
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