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BTC price forms new support at $16.8K as Bitcoin lures ‘mega whales’

January 6, 2023


Bitcoin could be busy forming fundamental support in its current tight trading range, the latest research suggests.

In a tweet on Jan. 6, trading platform Trend Rider noticed that $16,800 is becoming an increasingly important BTC price support zone.

Point of control establishing below $17,000?

Bitcoin’s lack of volatility has led commentators to debate when a breakout could occur — and in what direction it could go.

So far, however, the increasingly narrow trading range in place since the FTX saga in November remains in control.

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