danielcawrey

Look At That Beautiful Bitcoin $9,000-$9,200 Range

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
The market at $9,200 per bitcoin erased gains earlier in the week when the world’s oldest cryptocurrency popped to $9,400 Wednesday. “Two days ago, bitcoin rallied 1.9% then dropped 2.1% and is now flat. Just another failed breakout,” said Elie Le Rest, partner at quantitative trading firm ExoAlpha. Still, traders buying when prices dip isn’t providing enough momentum to significantly move the market higher, Le Rest added. “There’s less and less amplitude to move, so we should see in the next couple of days how this resolves.”

Several traders pointed to $9,400, where momentum might turn into a bullish market. “The price of bitcoin again returned to the range of $9,000-$9,200 after the asset again failed to pass a key level at $9,392,” said Constatin Kogan, a partner at cryptocurrency fund BitBull Capital. Indeed, bitcoin has struggled to break out of $9,000-$9,200 territory.
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Comments

One for the trashcan.
+4 Reply
Hey Daniel, nice analysis. Note how the market dropped 2.1% compared to the 1.9% increase? This in my opinion should be taken into consideration that the bears seem to be a bit more agreesive than the bulls and could potentially open the doors for further downside in the upcoming week ahead.

Here's a link to my bear outlook. Let me know your thoughts. Thanks in advance.

+1 Reply
vatotechno Michael_Harding
@Michael_Harding, Yes Sire, Agreed
Reply
USA new Virus cases a day 40.000 late June, last week 55000 new cases a day now 65.000 a day
Expect abig correction soon
+1 Reply
Bishmar crypto008
well do theses pointless cases correlate to btc? or perhaps they correlate to lets say mortality rate!? lmao US is prepared for another outbreak like no other county.
+1 Reply
birchgrove Bishmar
@Bishmar, "like no other country" You wish!
+1 Reply
@Bishmar, LOL!!!!!!!
+1 Reply
@crypto008, TESTS.... not actual real sick people. TESTS. No one cares. Covid is a big nothing.
+1 Reply
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