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(Kitco News) - The struggle to generate momentum continued for Bitcoin (BTC) and the wider cryptocurrency market on Monday as prices traded flat on the day with no major developments to give crypto traders anything to be excited about.
Data from TradingView shows that bulls managed to claw their way back above support at $20,000 during the afternoon trading session after Bitcoin dipped to a daily low of $19,585 in the closing hours on Sunday.
BTC/USD 4-hour chart. Source: TradingView
While Monday’s recovery back above $20,000 was a welcomed sight for many, Kitco senior market analyst Jim Wyckoff cautioned bulls about being overly optimistic as bears are still in control of the market.
“Prices over the weekend hit a six-week low and are trending down again. Bears have the overall near-term technical...
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