New data hints why Bitcoin price action has spent two months at $30K

(BTC) has seen almost two months of rangebound price moves after hitting $30,000 — and new data hints why.

In a series of tweets on July 15, popular Twitter commentator Nunya Bizniz presented multiple arguments supporting the significance of $30,000 for .

BTC/USD chart comparison with Fibonacci extensions. Source: Nunya Bizniz/ Twitter
BTC/USD 1-day candle chart (Bitstamp). Source: TradingView