RATE Group | Where is this Directionless Bitcoin trading going?
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Where is this Directionless Bitcoin trading going?

09 Nov Where is this Directionless Bitcoin trading going?

Posted at 21:03h in Cryptocurrency News by

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  • Bitcoin must come out of the range to break away from the sideways mundane trading.
  • Ethereum has the potential to jump above $190 but $200 is still a pipe dream.
  • Ripple up and down movements jeopardize the support areas at $0.28 and $0.25.

October was both a bad and great reckoning for the cryptocurrency especially for Bitcoin. The largest crypto in the market plunged to test $7,300. A counter movement blasted Bitcoin to levels almost hitting $10,600. However, acute volatility sent Bitcoin to the $9,000 range. For more than a week, Bitcoin has been locked between $9,000 and $9,600.

Bitcoin price update

The price of BTC is directionless and ranging within the above range limits. $9,000 is strong support and buy zone while $9,600 remains to be the sellers’ favorite spot. The 50 SMA is capping the immediate gains on the upside. The RSI and the MACD clearly show that the indecision will last longer. Breaking either of the range limits will give Bitcoin a…

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