The Bitcoin Snooze Fest Continues...

Two week ago I posted about bitcoin consolidating and essentially coiling up to make a move, whether it be up or down.

At this point it has been over a month and a half that bitcoin had just been trading sideway. Relatively speaking that really isn't long. With stocks you can see price trend sideways many months and it not be considered out of the norm.

Crypto is a bit different, atleast in terms of perspective. The crypto crowd is used to volatility, thus when nearing 2 months of little volatility the troops get very restless.

Poke Poke, wakey wakey BTC

Looking at the chart above you can see nothing much has changed from a couple weeks ago. Price is still in that 30 to 41K range. Don't get me wrong, an 11K range is nothing to sneeze at, but as far as a clear bullish or bearish signal for price it doesn't really help much.

Furthermore, the past couple weeks has seen volume dry up even more and the price range further tighten sticking in the 30-36K area.

It sort of feels like the calm before the storm. Barely anything going on and bulls and bears gearing up for their next adventure.

Either way, I'm neutral on BTC price until I either see a closing price below 29K or above 41K. In the meantime I just hold my long-term bag.

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