BTC: Side-trade implies the next big move?Bitcoin / U.S. dollarBITSTAMP:BTCUSDXBTFXThe crypto market continues to stay aside considering investors concerns regarding potential course of the US and global macroeconomic developments in the coming period in case that surging oil prices reflect in inflation. This would mean either “higher for longer” central bank rates, or even potential increase in interest rates as the worst-case scenario. Higher rates means less liquidity on the market, which at the end, means less liquidity for high risk assets. BTC was in the “chopping” mode during the previous week, with a very low trading range - between $69K and $66K. However, a “chopping” mode implies that the next bigger move is coming in the future period. The RSI remains below the 50 level, which means that investors are still not ready to take the clear path toward the overbought market side. However, they are currently not ready to take a path toward the oversold market side either. The MA50 stopped its divergence from MA200, but the clear convergence has not yet started. In this case, the potential cross is still far away. Side-trade seems to be a dead-end for any trader, however, what is positive about this formation is that it usually implies a bigger move toward one side. Side-trade requires patience from investors and traders. What is also positive is that BTC managed to sustain the higher grounds during this side trading, which was above the $65K support. Based on current charts, levels above the $70K could be easily tested in the week or two ahead. Whether there will be strength for $75K resistance, it will depend solely on general developments with oil price in the coming period. A move toward the lower ground is also possible to some extent. If the market decides to take this short-term direction, then $65K down to $63K will be levels to watch.