Here’s Why Bitcoin Is in No Man’s Land From a Monthly Technical Perspective


Bitcoin is currently in no man’s land from a monthly technical perspective analysts say. The cryptocurrency will need to decisively move above $12,000 or below $10,000 to confirm its directionality. Bitcoin Is in No Man’s Land on a Monthly Time Frame Bitcoin may be in no man’s land on a monthly time frame despite extremely strong price action over the past few weeks and months. One analyst shared the chart below on September 28th, showing that the cryptocurrency is still above a crucial technical support and below a horizontal resistance at $12,000. The cryptocurrency will need to break past one of these levels to confirm its macro directionality. Commenting on the chart, the Bitcoin analyst in question wrote: “Overall I’m bullish unless we close below EMA support. This monthly isn’t necessarily bearish, but it’s not super bullish to me either. This looks like a pattern that will see slow buying…

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