Data from Cointelegraph Markets Pro and TradingView shows BTC/USD shedding above $1,000 or 3% within hours of the day.
The normal life conditions of weekend trading saw the largest cryptocurrency unable to break out of a wide corridor for weeks.
Lacking weapons to either clear the $30,000 resistance or drop to major trend lines near $25,000, BTC/USD disappointed market participants.
“Bitcoin is really uncertain and don’t know what to do .. I’m back from a position and waiting again for one side of the range to re-enter,” popular crypto trader Tony told his Twitter followers.
An accompanying chart showed potential targets in the event of a malfunction.
BTC/USD Annotated Chart. Source: Crypto Tony/Twitter
Additional analysis released earlier meanwhile reiterated predictions that $32,000 would be in place.
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In separate coverage, fellow trader CryptoBullet described the day’s loss as “nothing special.”
“Final Dip Before Breakout,” argued one section of the commentary, presenting BTC/USD in a narrow wedge on a chart as the exit trajectory is decided.
BTC price bulls need to clear $30,000
As always, longer time frames led to more optimistic views.
Related: Bitcoin Trader Sees $63K BTC Price for ‘Breakout’ of New Bollinger Bands
Analyzing the weekly chart, analyst Gert Van Lagen flagged the 200-week Simple Moving Average (SMA) as the next resistance line to clear, and Bitcoin may complete a bullish inverse head and shoulder chart pattern.
BTC/USD Annotated Chart. Source: Gert van Lagen/Twitter
Trader and investor CryptoAce meanwhile highlighted a major weekly resistance zone to counter the bulls.
“Stay down, $24,000 will trade in a few weeks,” read part of an update on trading activity that day.
