Bitcoin Price Analysis: Two-Way Business Continues

Bitcoin’s sideways roll continues with both bulls and the bears not showing any interest in leading the price action. 

1H chart

The largest digital currency defended $8,460 area during Tuesday’s North American session. That level has successfully absorbed selling pressure three times since Sunday. 

Tuesday’s defense of $8,460 was followed by a quick move higher to $8,770. 

The bounce, however, ran out of steam, leaving the cryptocurrency sidelined around $8,700 – a level where it is currently trading on major exchanges. 

From trading perspective, a good time to increase long exposure would be after an hourly close above $8,750. 

On the other hand, a move through support at $8,460 would expose the psychological support of $8,000.