Bitcoin (BTC<\/a>) faces a new battleground as bulls and bears fight for control of a sideways market, one popular trader says.<\/p>\n In part of his latest\u00a0analysis<\/a>\u00a0on X (formerly Twitter) on Aug. 11, Daan Crypto Trades flagged a key level to reclaim as BTC price support.<\/p>\n With BTC price breakouts continually failing, both Bitcoin bulls and bears are caught in a \u201cstrongly contested\u201d range, Daan Crypto Trades summarized.<\/p>\n This is the culmination of various trips above and below current spot price<\/a>, making the midpoint the level to watch next.<\/p>\n The status quo has essentially remained the same since mid-June \u2014 $28,500 as fundamental support, $31,800 as resistance.<\/p>\n Gaining control of the area around $29,700 is thus an essential move if bulls are to build the necessary momentum to change the landscape for good.<\/p>\n \u201cPretty clear that the $29.5\u201329.7K region is an area that\u2019s strongly contested by the bulls and bears,\u201d Daan Crypto Trades wrote. <\/p>\n \u201cIt\u2019s an important area to keep watching.\u201d<\/p><\/blockquote>\n An accompanying chart showed BTC\/USD nonetheless fighting to return above the range low, with little significant historical support lines between $28,500 and $29,500.<\/p>\n The analysis thus ties in with other perspectives from recent weeks<\/a>, these likewise focusing on $28,500 or slightly lower as a downside target.<\/p>\n Focusing on short-term BTC price events, meanwhile, fellow trader Skew highlighted just how frenetic the mid-$29,000 zone currently is for Bitcoin.<\/p>\n Related:\u00a0Bitcoin risks 15% dip by October, but $100K is due in 2026 \u2014 Analysis<\/a><\/em><\/strong><\/p>\n Exchange trades showed large-volume bids absorbing sellside pressure on Aug. 11.<\/p>\n $BTC<\/a> \u2014 Skew \u0394 (@52kskew) August 11, 2023<\/a><\/p><\/blockquote>\n Continuing, Skew described<\/a> spot price action on four-hour timeframes as \u201cweak\u201d despite holding above various exponential moving averages (EMAs).<\/p>\n \u201cTight price compression here, likely a 5% + price reaction is coming from here,\u201d he added.<\/p>\n\u201cStrongly contested\u201d BTC price zone set for a grilling<\/h2>\n
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Bitcoin traders fight it out on exchanges<\/h2>\n
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and now they’re puking the bag lol https:\/\/t.co\/XkGxu5OsEf<\/a> pic.twitter.com\/fpqf5PmzIC<\/a><\/p>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-08\/b45877e0-ee70-4f1e-8d49-07fe5d403a39.jpeg\")