Significant whale activity between $22,000 and $24,800 adds to the complexity of the current spot market setup.Bitcoin realized price bands form key resistance as bulls lose $24K.
Bitcoin (BTC) consolidated lower on Aug. 9 after familiar resistance preserved a multi-month trading range.Data showed BTC/USD falling under the $24,000 mark overnight after rejecting near $24,200.
The pair had seen swift gains to start the week but momentum faded as the top of the trading range in place since mid-June came closer.
As such, bulls failed to reclaim new ground or even match the highs seen at the end of July, and the status quo thus continued. At the time of writing, BTC/USD was consolidating near $23,800.
For popular trader Credible Crypto, a deeper retracement could happen and may involve as low as $23,360 without disrupting even the low-timeframe trend.
Markets unmoved by Wednesday inflation figures, Potential volatility meanwhile remained on the radar, with upcoming United States inflation data, due Aug. 10 high on traders’ list of market triggers to watch.
