BTC price shrugs off strong PCE data as Bitcoin traders eye $28K range

No joy with PCE — BTC stays muted in the face of weakening U.S. inflation data.

Among traders, there was still appetite for BTC price downside, with $30,000 resistance now in place for over a week.Popular trader Crypto Tony confirmed that he remained short BTC below $29,600.

“I expect continuation down to $28,000 in time, but for sure we could range here for a little while before the drop,” heFellow trader Daan Crypto Trades likewise placed emphasis on the loss of the local range focused on the $30,000 mark. “With Bitcoin Rejecting from the previous range, I think it makes sense to prepare for low $28Ks,” he“Invalidation upon retaking $29.5K but there seems to be a lot of supply at that level and little spot bid to bring it up. Likely a choppy road on the way there.”Michaël van de Poppe, founder and CEO of trading firm Eight, meanwhile spied what he called “deviation” on the daily BTC/USD chart — something previously occurring in February and which was followed by an upward rebound.

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