After the recent market retracement, Bitcoin seems to have begun a boring week. It might end up forming a double bottom but after that, this is expected to be a boring time for Bitcoin (BTC) with nothing much to be excited about on the bullish or the bearish side. The price is expected to remain rangebound for quite a while and might top out in September at the earliest.

It is important to realize that BTC/USD is closely following the S&P 500 (SPX). There is a strong…

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