By Williams Suberg
Long-term holders begin ‘distribution’
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD stuck between $29,000 and $30,000 into the weekend.
The pair had managed a revival to near $31,000 the previous day, but the last Wall Street trading session of the week put pay to bulls’ efforts.
As “out-of-hours” markets offered thin volumes but little volatility, eyes were on the potential direction of what would be an inevitable breakout.
“The weekly chart on Bitcoin looks nothing short of horrific and so the trend continuation remains. I do think we consolidate a little longer in this range before dropping eventually,” Crypto Tony announced on the day in part of a series of tweets.