Bitcoin (BTC) lingered below $31,000 at the July 3 Wall Street open, with bulls still in need of a catalyst.

Bitcoin price: Sink or swim at $30,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD acting in a tight range following the weekly close.

BTC’s price performance remained firmly sideways into the new week, punctuated only by modest attempts at attacking the $31,000 mark.

More optimistic market participants hoped that nearby resistance levels — and not only for Bitcoin — would soon fall.

“The more frequently a resistance line is tested, the weaker it becomes,” trading team Stockmoney Lizards argued.

“The day will come when ALL $31k sell orders have been filled.”

An accompanying chart uploaded to Twitter compared BTC price action this year with its pre-bull market behavior in 2016, in the run-up to previous all-time highs in December 2017.

Continuing, popular trader and analyst Rekt Capital suggested that the overall crypto market capitalization was also poised for a breakout.

Total #Crypto Market Cap is really trying to press beyond this black resistance and break out into uptrend continuation

Doing so and the entire Crypto Market Cap could see gains of +10% to up to +23% over time #BTC

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Author: William Suberg

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