Bitcoin Consolidates Despite Trump's Support

Unlike Ethereum, the former president's statement failed to trigger a rally for BTC. Bitcoin price fell 2.73% to $67,544 in the past few days, according to data from TradingView.

On the hourly chart, Bitcoin price is in the middle of a narrow trading channel. Buyers could only consider initiating an upward move if they push BTC price back to the $69,500 area. Achieving this goal could open up the possibility of increased resistance.

Meanwhile, the situation remains unchanged on the daily interval. Neither the bulls nor the bears show dominance, suggesting that sudden price movements are unlikely.

In general, sideways trading around $69,000 is the most likely short-term scenario. From a medium-term perspective, Bitcoin has once again failed to hold a position above the $70,000 area. A correction to the $66,000 range can be anticipated as long as the price remains below this threshold.#Binance #Ethereum $ETH $BTC