Bitcoin needs to step out of its comfort zone

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin price action has been rather muted lately, and it looks like the cryptocurrency has found its comfort zone below the key $6,800 resistance. The bulls lack incentives to push the price above this barrier as the general market sentiment remains neutral for the time being.

For the current picture to change, BTCUSD needs to step out of its familiar trading range. However, there are no any catalysts at the moment to boost the coin in either direction. The longer the pair remains in the limited range, the more aggressive could be its reaction to fresh industry news and incentives down the road.

In the daily charts , BTC sentiment has improved since slate-June. But the impetus is not enough to challenge the mentioned resistance. On the other hand, technicals could push the price north should the digital currency stay afloat above the $6,300 region in the coming days. Only above $6,800 we can call a bottom and target $7,800 in the medium term.


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