Bitcoin bounces within the RangeBTC\/USD fell to $31,000 before buyers stepped in to pick up some cheap bitcoin. Since the local low BTC rallied 18% and currently trades above $36,300. Bulls have overcome a pivotal price point which should provide impetus for a sustained relief rally to the upper-bound of the range.On the flip side, if BTC\/USD slides below the pivot and fails to bounce at $33,470, then a test of the $30,000 level would be next.However, open interest and short traders appear to be doubling down according to data from coinalyze, painting a somewhat large target on their backs for a serious short squeeze.All in all, market structure still suggests a ranging market, and relatively low volumes confirm this thesis all the more.Levels to watchReclaim $43,000 level (20-weekly EMA) suggests a move to $50,000.Rejection from the $40,000 (psych level) suggests a retest of the pivot.Close below $35,800 suggests a test of $33,470.Weakness below that suggests a move to $30,000.Meanwhile, bitcoin transfers to exchanges have reduced significantly to pre-bull market lows when measured on a 7-day Exponential Moving Average.This suggests that current market participants are not keen on selling coins on the open market at these prices. The data describes increasing hodling behaviour and is a sign that weak hands (short term participants) are largely out of the market.Bulls lead the way.Catch you next time.Join the Telegram channel for live updates & setups!Follow me on Twitter & Gab and my social portals below.https:\/\/www.paypal.com\/donate?hosted_button_id=C9VRLGTBHQX2Nhttps:\/\/chrisoncrypto.com\/blog\/f\/el-salvadore-unanimously-votes-to-adopt-bitcoin-as-legal-tenderhttp:\/\/www.chrisoncrypto.com\/You can also support me in Bitcoin!BTC address: 3EydsEYpjHn68axKnCUqBB7EbqcxrEjamrBest regards,Christopher AttardFounder of Chris on CryptoContributor to www.cityam.comConnect directly on: Telegram<\/p>","protected":false},"excerpt":{"rendered":"
Bitcoin bounces within the RangeBTC\/USD fell to $31,000 before buyers stepped in to pick up some cheap bitcoin. Since the local low BTC rallied 18% and [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/posts\/4691"}],"collection":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/comments?post=4691"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/posts\/4691\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/media?parent=4691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/categories?post=4691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/tags?post=4691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}