25.11.202218:57 Forex Analysis & Reviews: Bitcoin continues to trade sideways in a new trading range.

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Green lines- Fibonacci retracement levels

After the FTX scandal and the sell off towards $15,500, Bitcoin has found some balance and is mostly moving sideways. The bulls are absent and there is not enough strength or a catalyst until now to bring bulls back in the game. Bitcoin remains vulnerable to another break down. Bitcoin is unable to bounce even higher than the 23.6% retracement level. Price is trading sideways for two weeks now creating a trading range between $15,500 and $16,900. Traders need to remain patient.

Alexandros Yfantis
Analytical expert of InstaForex
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