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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.
Trading analysis offered by RobotFX and Flex EA.
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