Published on July 11th, 2018 | by bitcoin0
Bitcoin go below trading range
Over the last week or so, bitcoin managed to break its sustained downtrend and trend back inside the macro trading range (TR) — both of which are quite bullish market characteristics.
However, today’s pullback has us retesting the support of the macro TR (outlined in blue): Figure 1: BTC-USD, 1-Day Candles, Macro Trading Range As noted our previous market analysis of bitcoin, the market has been confined by a well-defined trading range.
While it is inherently bearish to push below a trading range, there are a couple arguments that can actually put a bullish twist on the deep test of support.
One characteristic of a spring is a subsequent retest of the market supply.
Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks.