The wait for Bitcoin’s next move is nearly over after weeks of sideways choppy trade. The largest crypto by market cap has been stuck below $20.5k for the last month while support around $18k-$18.3k has held firm. In common with other risk markets, Bitcoin had a wild ride post-US CPI, falling quickly to support before reversing sharply higher to tag $20k earlier today.
Last week we identified that Bitcoin was nearing the apex of the multi-month downtrend and medium-term support. This may break soon.
