– Bitcoin’s price remains below $31,000, with bulls waiting for a catalyst.
– BTC/USD is trading in a tight range and attempting to break the $31,000 resistance level.
– Some traders believe that frequent testing of resistance weakens it and expect the $31,000 sell orders to be filled soon.
– Others anticipate a downside move to $28,000 if the resistance is not broken.
– The June monthly close saw Bitcoin closing above an adjusted volume-weighted average price (AVWAP) for the first time since the 2021 all-time highs.
– Market observers are encouraged to have a longer time preference and focus on higher highs and higher lows.
– This article does not provide investment advice and readers should conduct their own research.
