Cryptocurrency
Bitcoin Forms Massive Trading Range as Analysts Eye a Move to Sub-$4,000
As reported on NewsBTC, “Bitcoin has once again found itself caught within the throes of an immense selloff, with the benchmark cryptocurrency plummeting below $5,000 earlier this morning in tandem with the decline seen by the U.S. stock market. “This overtly bearish decline appears to have led to the formation of a new trading range, […]
As reported on NewsBTC, “Bitcoin has once again found itself caught within the throes of an immense selloff, with the benchmark cryptocurrency plummeting below $5,000 earlier this morning in tandem with the decline seen by the U.S. stock market.
“This overtly bearish decline appears to have led to the formation of a new trading range, with some traders noting that they expect BTC to soon drop below the lower boundary of this range and set fresh year-to-date lows in the sub-$4,000 region.
“If this bearish bout of capitulation does occur, it will likely be sparked by a further decline within the equities market – which has been firmly guiding Bitcoin over the past several weeks…”