1
BTC price is consolidating in a narrow range below $30k.
2
Buyers are attempting to escape the cage but have not succeeded yet.
Bitcoin (BTC) price chart shows efforts to surpass $30k, which is a strong barrier buyers faced in the past session. BTC price is hovering below it, with low volume indicating low interest in the last session. The price action indicates that BTC is trading near the 50-day EMA, and buyers are facing pressure from the bears who decisively prevented the range.
The chart shows that BTC has been trading in an uptrend in the past months and climbing the stairs decisively. Furthermore, the lower trendline was also respected and took multiple bounce-backs, as shown on the charts. However, making a head and shoulders pattern also suggests a bearish sentiment for the upcoming sessions if the price slips below the lower trendline below the 200-day EMA.
However, the BTC price only retraced a little from the top. It consolidates near $30K,

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