Bitcoin sideways price action still playing out

The lack of decisive direction for Bitcoin now since May 12 continued yesterday and again so far today. The lead cryptocurrency is still travelling sideways inside what is an ever condensing range, defined by what is known as a wedge, or pennant formation. That means the further it continues, the closer to the end of that formation it will eventually get to. It seems to be close to that right now. As this is lateral, it is not exactly clear which way the break out will be. The feeling here is to the downside though. The lines of demarcation right now would appear to rest at at 28,770 on the downside and 30,300 on the topside. Worth noting too is the 21 day moving average, which is still falling. Right now that is dropping closer to the top end of the formation I have just described and in place at this very minute, at 30,533. The range seen so far today has been covered by 29,478 to 29,848. Bitcoin is currently trading at 29,730