Can the price break above its sideways pattern?
Bitcoin price has been trading within a tight range during the past two weeks, with investors scrutinizing the current complex market conditions, and appearing to be on hold for fresh catalysts that could provide strong directional impetus.
In the positive scenario, bullish actions could send the price to test the recent peak of $31,570 before the attention shifts to the $34,450 barrier.
On the flipside, should selling interest intensify, Bitcoin’s price may descend towards $28,000, which is the lower boundary of its recent rangebound pattern. A violation of the latter could set the stage for the 2022 low of $25,390.
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