However, as the wicks show, buyers are still trying to accumulate and maintain the range. As long as investors keep absorbing the pressure, the range will not be lost.
There are two scenarios that can happen with Bitcoin right now. The next chart will help showcase them.
Where can the BTC market possibly head to next? | Source: TheCryptoCactus
The first scenario is that amidst all the FUD and crackdowns (like the Binance one), buyers keep at absorbing the pressure and maintaining this range. During which, the price gradually goes up to the next range.
The other way out of this range is if Bitcoin drops below the $30k mark, and this price-point becomes a resistance line.
The latter scenario will mean the price goes down a lot, and coming back from it will be tough. And as mentioned before, if BTC crosses the $19k last ATH support line, a bear market can possibly take hold.