Last week ended on a very disappointing note for Bitcoin market traders and speculators as the cryptocurrency failed to budge beyond a certain, small range. Many of the market participants expected Bitcoin to move as the week came to a close, but nothing significant was seen.
Bitcoin is currently trading at $228.90, closer to its support zone of $220-225.
Even though the price action has been sort of dull, the technical indicators have undergone changes. Let us find out below which ones are telling what.
Bitcoin Chart Structure – As you can see, Bitcoin traded in a small range of $223-246 during the previous week. The current value indicates that