Bitcoin Stuck in Transition Zone

Bitcoin is struggling to gain momentum and break through resistance levels as it attempts to turn a corner in its price action. The cryptocurrency has lost support from its confluence of the 7D and 30D cost bases, which are key indicators used by traders to gauge market sentiment.

Despite this setback, Bitcoin's price remains within the Transition Zone, a critical area where momentum is still present but uncertain. As long as it holds above $50K, Bitcoin can be considered in consolidation mode, with reclaiming $65K seen as crucial to resuming its upward trajectory.