Why is Bitcoin price stuck?

Bitcoin price is flatlining within a narrowing range amid increasing economic uncertainty and trade wars, resulting in weakening demand for risk assets such as BTC.

Bitcoin (BTC) price has been consolidating within a roughly $5,500 range since March 9 as the $84,000 level represents stiff overhead resistance.

Data from Cointelegraph Markets Pro and Bitstamp shows BTC price oscillating between $78,599 and $84,000, as shown in the chart below.

BTC/USD daily chart. Source: Cointelegraph/TradingView

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