Bitcoin volatility takes a break as $31K BTC price yearly highs loom
A serious watershed is on the horizon for BTC price, as Bitcoin shorters show signs of betting on a short-term trend turnaround. Bitcoin (BTC) denied the market fresh volatility at the June 23 Wall Street open as traders attempted to guess its next targets. BTC/USD 1-hour chart. Source: TradingView Bitcoin lacks "strong confirmation" of new upside Data from Cointelegraph Markets Pro and TradingView showed BTC price action continuing to hover around $30,000. A second day of sideways trading thus greeted market participants as prior upside stalled close to the yearly high at $31,000. Popular trader Daan Crypto Trades suggested that this area represented a popular invalidation point for those shorting BTC after its recent upside. “Most of the shorts that entered during this consolidation will likely have their stops sitting above that local high at ~$30.8K,” part of a tweet read on the day. “This makes for an excellent liquidity grab. Line in the sand is the $29.8K region ...