BTC price expect to trade sideways in the waiting game

 Bitcoin (BTC) price value has been trading at a steady level over the past two weeks. two bearish caps remain hovering over the price action even though the price movement itself has not reached new lows. In light of the present market turmoil with the foreign exchange market for the pound sterling reaching an all-time low for the first time in over 30 years, the stock market in a bear market , and the state of Europe moving into a new phase in its war of tit-for-tat with Russia It doesn't seem like there is an actual catalyst that will allow Bitcoin price to rise. Expect price action to be moving in a zigzag fashion, waiting for that catalyst in the next week or week following, to take advantage of a shift to the negative.

BTC price expect to trade sideways in the waiting game

The Bitcoin price is trading like traders are confused about what to do next since a variety of tail risks hang over the price action , while BTC price is making money. This indicates that there isn't any conviction among traders during an upswing as the gains do not have any results; it's normal to think of the current negative factors and tail risks increasing to levels never seen before for a long time.

BTC price is thereby traded at the discretion of markets and with an erupting storm and brewing, this could be the moment to see the eye of the hurricane. With markets currently licking their wounds and seeing pullbacks from those multiple-decade-lows, expect to see some sideways price action for now. When one tail risk reaches to a higher level regardless of whether it's Russia or the UK or another country or entity, you can expect an abrupt decline in BTC price to $16,020.

The traders could be investing in the price action gradually but steadily as the market has reached their lowest point and at the same time, the long-awaited turning point. If they do, will the buying action result in a breakout to the upside, above the daily 55-day Simple Moving Average (SMA). This would be the best scenario for a breakout and it will be followed by a follow-up throughout the week. Certainly market sentiment support the trend by moving far from the territory of bear markets and creating tailwinds to cryptocurrency.

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