• Crypto Traders Warn Big Bitcoin Price Plunge Is Around The Corner After Stagnancy

    April 17, 2020
    No Comments
    Crypto Traders Warn Big Bitcoin Price Plunge Is Around The Corner After Stagnancy
    Bitcoin machine ATM
    Image by Paweł Balaryn

    Bitcoin has been stuck in the same range for two weeks. When BTC remains stagnant for a long time, it tends to see significant volatility in the near-term.

    For 15 days, the Bitcoin price has been stuck in the same range, consolidating at the same support level at $6,700. Although BTC surged to as high as $7,400 recently, it failed to test a key resistance level at $7,700 and has been stagnant since. Often, when the Bitcoin price becomes stuck in a tight range for an extended period of time, it tends to see significant volatility in the near-term.

    While the Bitcoin price could spike upwards in a strong, short squeeze given the negative funding rate of BTC futures, more technical factors point toward a bearish retest of lower support levels rather than an abrupt upsurge...

    To read more visit CoinTelegraph.

    Author

    Avatar photo

    CDM Staff

    The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."
  • Subscribe
    Notify of
    guest

    0 Comments
    Inline Feedbacks
    View all comments
    magnifierchevron-right

    Subscribe to our evening newsletter to stay informed during these challenging times!!