Since the beginning of October, Bitcoin’s (BTC) price has been consolidating within a roughly $3,400 range as the 200-day simple moving average (SMA) remained a resistance that BTC could not overcome. Bitcoin has been stuck between its resistance level at $72,000 and $54,000 since dropping from its March 14 all-time high of $73,835. The direction of Bitcoin price is currently uncertain as the effects of an aggressively dovish Fed policy and stimulus measures in China fade. Let’s look at the reasons why Bitcoin price remains stuck today. Bitcoin is trapped between the 50-day and 200-day SMAOn S…