Failing to hold the latter, BTC might retest the 2017 bull market’s all-time high at the $17K-$20K region, a level which could finally act as this bear market’s bottom.
On the 4-hour timeframe, the price was seemingly oscillating in a meaningless way over the last few weeks, liquidating both the buyers and the sellers on either side of the $31K – $28K horizontal range.
Meanwhile, retailers are experiencing FOMO and supplying the market’s demand side.