Bitcoin Long Consolidation Makes Trading Difficult According to Top Analyst – Here’s What Traders Should Do

Bitcoin is currently trading above $26,800 after breaking above this resistance level in the afternoon hours of September 28th. However, according to cryptocurrency analyst Altcoin Sherpa, Bitcoin is in a consolidation phase, which can often last longer than expected.

“These consolidations can take a lot longer than most people think. Chopping around for several weeks in this current environment is normal and it’s quite hard to trade Bitcoin now,” Sherpa stated.

During consolidation phases, Bitcoin tends to trade sideways within a relatively narrow price range. This makes it difficult to predict clear market trends and direction. As Sherpa notes, attempting to trade Bitcoin in this choppy environment can be challenging for even experienced traders.

A prolonged consolidation period allows previous Bitcoin bull runs to cool off and consolidate at new support levels. However, this also generates uncertainty in the market, as traders await a breakout in either direction.

According to Sherpa, the best strategy during Bitcoin’s consolidation is to “preserve capital and chill out” rather than trying to time entries and exits. This avoids getting “chopped up” by the whipsaws and fluctuations characteristic of directionless trading.

Patience and caution are prudent during these periods of low volatility. The next major market movement will likely occur once Bitcoin breaks out of its current trading range. Until then, uncertainty remains regarding Bitcoin’s short-term price trajectory.

Check $RECQ Meme Coin

Sponsored: Invest Responsibly, Do Your Own Research.
Serves as the base currency for all transactions within the Rebel Satoshi platform
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.


Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency