BTC ended up the day lower, showing an almost 4% loss against the US dollar.
Volume keeps decreasing, intra-day range and volatility keep tightening. We are currently in an accumulation phase, hence the whipsaw of the prices.
As long as volume remain low, buyers nor sellers won't get the necessary momentum needed to break through the near downtrend or the $11k support level.
Stochastic is showing a short-term bearish crossover but bear in mind that Bitcoin is stuck within its downtrend and the $11k support level.
We expect Bitcoin to keep evolving during those two bands until volume rises. From there, we expect a large upward movement toward the
13K and 
14K levels.
Raphaël Comte
Investment Analyst at Token Metrics
Disclosure: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. Its principal has advised and invested in many blockchain companies. A complete list of his disclosures, advisory roles and current holdings can be viewed here: ianbalina.com/pages/transparency.......................................... .
Volume keeps decreasing, intra-day range and volatility keep tightening. We are currently in an accumulation phase, hence the whipsaw of the prices.
As long as volume remain low, buyers nor sellers won't get the necessary momentum needed to break through the near downtrend or the $11k support level.
Stochastic is showing a short-term bearish crossover but bear in mind that Bitcoin is stuck within its downtrend and the $11k support level.
We expect Bitcoin to keep evolving during those two bands until volume rises. From there, we expect a large upward movement toward the
13K and 14K levels.Raphaël Comte
Investment Analyst at Token Metrics
Disclosure: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. Its principal has advised and invested in many blockchain companies. A complete list of his disclosures, advisory roles and current holdings can be viewed here: ianbalina.com/pages/transparency.......................................... .
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.