Bitcoin bulls falter after BTC price briefly spikes through $30K
BTC’s price strength attempts a comeback, but bulls run out of steam after briefly storming through key resistance levels. Bitcoin (BTC) spiked above $30,000 on Aug. 2 as a tour of its trading range saw BTC price volatility return. BTC/USD 1-hour chart. Source: TradingView Bitcoin comes full circle after trip to $30,000 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as buyers staged a brief rally through key resistance. Local highs of $30,025 were short-lived, with bulls unable to maintain momentum or hold the market above levels previously identified as pivot points. These included both $30,000 and $29,500, with Bitcoin trading below both at the time of writing. “I’d like to see $29.3K hold on LTF and then a clean break through $30K,” Michaël van de Poppe, founder and CEO of trading firm Eight, wrote in part of his latest Analysis . Popular trader Skew revealed the impetus behind the overnight action, with market makers and market takers battling it out to steer...