Is Bitcoin going sideways, a good or bad sign? In general, when an asset stays sideways for a long time, it usually falls afterward, but that's not always the case. In this case, I think Bitcoin will break out, although it will always depend on the market and the crazy news that's been happening lately.
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Bitcoin was coming off a decline and has held sideways, which should lead us to believe that this sideways movement is the creation of a floor around 80K, which, combined with the resistance at 102K, gives us a wide range. If it breaks through 80K, we could go towards 50K. I don't think that will happen. I also don't think it will break out too far and break through the resistance. I see it more in that sideways range until US rates drop again. As much as the US government might want it, I don't see it being that close.
But hey, you never know. Because there's a quarter of recession and inflation doesn't skyrocket, it's possible the Federal Reserve will put aside its doubts and take the plunge.
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