BTC bulls need to hold here on the daily time frame, lest we see $52K range tested.
Coinbase has rolled out Bitcoin Lightning Network, a payment protocol that side steps network congestion. Hong Kong BTC ETFs fail to live up to hype, Bloomberg data shows about $12.8 million in total first day volume. Bitcoin price dips into $60,000 threshold, reaching liquidity pool that prompted rebounds over past several weeks. Bitcoin price slid lower on Tuesday during the opening hours of the New York session, dipping its toes into a crucial chart area.
Meanwhile, Bitcoin price is on its 60th day of consolidation, which is no match compared to what was seen in the last two halving events, where BTC consolidated for 189 days and 87 days before the bull market kicked off. In the three weeks after the 2016 halving, however, Bitcoin price slipped into the range low area of its then re-accumulation range, just as it has done now.
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