Bitcoin (BTC) saw fresh volatility on May 6 as low-liquidity weekend trading tested the mettle of its trading range.

Bitcoin “in limbo” despite volatili

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD shedding over $1,000, or 3%, in a matter of hours on the day.

The largest cryptocurrency saw livelier conditions typical of weekend trading while remaining unable to exit a broader corridor in place for many weeks.

Amid a lack of ammuniation to either clear $30,000 resistance or drop toward key trend lines near $25,000, BTC/USD frustrated market participants.

“Bitcoin really is in limbo right now and doesn’t know what to do .. I am back out of a position and just waiting again for one side of this range to break to re enter,” popular trader Crypto Tony told Twitter followers.

An accompanying chart showed potential targets in the event of a bearish breakdown.

Additional analysis released earlier in the day meanwhile repeated existing predictions of $32,000 coming into play should bullish momentum return.

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Author: William Suberg

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