RATE Group | Bitcoin Careful as US-China Trade Talk Leaves Investors Dubious
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Bitcoin Careful as US-China Trade Talk Leaves Investors Dubious

08 Oct Bitcoin Careful as US-China Trade Talk Leaves Investors Dubious

Posted at 14:56h in Bitcoin News by

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Bitcoin held on to its gains on Tuesday as investors remained dubious about a positive outcome from trade talks this week.

The benchmark cryptocurrency was trading at $8,220.80 as of 1320 UTC, up by 0.14 percent. It widely trended in the middle of a range defined by $8,342 and $8,150, showing no ultimate breakout intentions. That showed traders are waiting on the sidelines for big whales to determine the next interim bias. In a broader timeframe, bitcoin remained in a downside correction, still haunted by the possibility of further slides.

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Bitcoin halts after surging more than 3 percent on Monday | Image credits: TradingView.com

An $11,000 Bitcoin

Analysts offered technical explanations for the recent downswing, noting that bitcoin is merely moving in response to psychological levels. Amsterdam-based stock trader, known by the alias ‘Crypto Michaël,’ for instance, said that bitcoin could test the $8,300-8,400 range for the next pullback. At the same time, the cryptocurrency could…

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