Bitcoin’s sideways price action leads traders to focus on SHIB, UNI, MKR and XDC By Cointelegraph

(BTC) is on track to form two successive Doji candlestick patterns on the weekly charts but a positive sign is that the price is sustaining above the 20-week exponential moving average ($28,072). This suggests that the bulls have not lost their grip.

Popular pseudonymous trader TechDev used the three-week timeframe to show that Bitcoin’s compression above the 20-period moving average was approaching values seen only four times since Bitcoin’s creation. Interestingly, on all three previous occasions, the expansions happened to the upside, suggesting that history favors the bulls.