Bitcoin price is close to flat lining, but, for those veteran crypto currency traders out there, it is only a new opportunity around the corner. With the Bitcoin price valued at around 613 USD, the overall views right now are barely Bearish.
The recent bearish moves show the Bitcoin price could be set to test key support.
However, the longer-term BTC USD trend higher remains intact.
Does anyone have a clue why the sudden relaxed price movement?
The last time Bitcoin price made close to no movement, within a couple of hours we saw a very strong spike (27th of May), opening the door to a Bullish trend which ended on the 14th of July.
Since then, the price has been fooling around between two strong horizontal values: the first one is the resistance level found at 650.00 and the second is the support level at 605.00.
On the 4 HR chart, things look pretty good for a Short Trader but do not get fooled.
As long as the minor resistance level at 635.00 remains intact we should see new lower lows, but once this level is