{"id":195329,"date":"2021-03-06T01:06:49","date_gmt":"2021-03-05T22:06:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/traders-speculate-that-bitcoins-price-may-continue-to-trade-sideways-for-now\/"},"modified":"2021-03-06T01:06:49","modified_gmt":"2021-03-05T22:06:49","slug":"traders-speculate-that-bitcoins-price-may-continue-to-trade-sideways-for-now","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/traders-speculate-that-bitcoins-price-may-continue-to-trade-sideways-for-now\/","title":{"rendered":"# Traders speculate that Bitcoin\u2019s price may continue to trade sideways for now"},"content":{"rendered":"

“# Traders speculate that Bitcoin\u2019s price may continue to trade sideways for now <\/strong>”
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Bitcoin\u2019s price has declined in recent days. While it has rebounded from its weekly lows, the asset’s trajectory remains uncertain says CryptoWendyO, a crypto trader on Twitter<\/a>.\u00a0\u00a0<\/p>\n

\u201cThe daily timeframe is not looking great as we are having trouble sustaining $50K,\u201d she told Cointelegraph on Friday. \u201cI am feeling like we will get a run to $51.6[K].\u201d<\/p>\n

She added:<\/p>\n

\u201cFrom there I would be cautious as rejection could lead back to the $50K -$45K range. A break down there could be a swift wick to $42-38K with a glorious recovery. Invalidation would be a sustained consolidation at $52K.\u201d<\/p><\/blockquote>\n

After hitting record highs of app<\/a>roximately $58,360 in February, Bitcoin (BTC) dropped<\/a> down to roughly $43,015 in subsequent days, based on TradingView data. The asset then rebounded up to about $52,660, before continuing its downward price action below $50,000. Bitcoin is trading at roughly $49,020 at time of publication. <\/p>\n

Cheds, a trader on Twitter holding his CMT level I certification, expects \u201cmore consolidation from BTC above that key 42k level,\u201d he told Cointelegraph on Friday. He also tweeted<\/a> a chart of his range expectations. <\/p>\n

\u201cThe big question is if the recent 27% correction is enough to bring us to a new high,\u201d Cheds said. \u201cIn the meantime we will watch a tightening range on the daily of lower highs and higher lows.\u201d <\/p>\n

A number of technology<\/a> stocks have also suffered price decline recently. <\/p>\n