Bitcoin’s rally this year has caught a lot of attention. Yet the coin has seemingly stopped its advance at $28,000, a key trading point around which it’s been meandering in recent days.
The largest cryptocurrency has hit a proverbial wall at that level, moving slightly above or below it in what analysts are calling range-bound trading. For the last three weeks of trading, Bitcoin has been trading within 15% of a key trendline — its average price over the past 30 days. Bitcoin was little changed at around $28,280 as of 4:25 p.m. in New York.
