Bitcoin ranges in the high $30,000s—but technicals suggest there’s ‘red’ ahead

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Bitcoin ranges in the high $30,000s—but technicals suggest there’s ‘red’ ahead

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Bitcoin once again failed to take over the $38,000 resistance and continues to be stuck in the mid $30,000s.

· 2 min read

Bitcoin ranges in the high $30,000s—but technicals suggest there’s ‘red’ ahead

Bitcoin and Ethereum both continue to show an unclear direction as both fail to break major resistances and fall back on their ‘support’ price levels.

However, the number of Bitcoin ‘shorts’ continues to rise and touch an all-time high on crypto exchange Bitfinex, which suggests that traders are leaning on the bearish side as of now.

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