Bitcoin go below trading range – Bitcoints

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Published on July 11th, 2018 | by bitcoin

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Bitcoin go below trading range

Bitcoin go below trading rangeOver 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.

Source: Bitcoinmagazine.com

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