After a long fall since this April, Bitcoin is now consolidating in the 30800-40700 range.
Where will it move next? Probably, a new tweet by Elon Musk will nudge Bitcoin somewhere.
The series of tweets posted by the CEO of Tesla about the drained interest towards the dominant cryptocurrency, Bitcoin’s harm to the environment and the company’s refusal to accept Bitcoin payments for e-cars has already negatively affected the crypto market.
If Elon Musk continues this way, we should expect further depreciation of Bitcoin.
Today it’s possible to trade from the borders of the current range waiting for further news. It’s better to trade from the upper border since for now the prospects of Bitcoin remain unclear.
This content is for informational purposes only and is not intended to be investing advice.
