BTCUSD awaiting range break | Crypto Craft

  • BTCUSD awaiting range break

    From octafx.com

    Bitcoin continues its period of price consolidation, as the number cryptocurrency trades within the $8,800 to $9,500 price range. The BTCUSD pair could quickly rally towards the $10,100 level if the $9,500 resistance level is broken this week. To the downside, a breach of the $8,800 support level exposes the BTCUSD pair to further heavy losses towards the $8,300 support area. • The BTCUSD pair is only bullish while trading above the $9,500 level, key resistance is found at the $9,800 and the $10,100 levels. • If the BTCUSD pair trades below the $9,500 level, sellers may test the $9,500 and $8,800 and $8,300 ... (full story)

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TudorIoan
Jul 13, 2020 7:36am
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Exactly.

75 days swinging around 9,400 !
1. The most stable ass...asset ?
2. Trader's paradise ?
Why paradise ? Well,...
If a pair is ranging predictably enough (for quite a long time), trading it's a piece of cake. (buy low - sell high)
If a pair is trending predictably enough, trading it's a piece of cake. (buy HL - sell HH, if bullish trend)
That's why a pair can't hang on endlessly on a predictable behaviour. Trading would be as simple as buy low - sell high. Everybody with an IQ over 60 would win. And we all know it's impossible to have only winners.

Bitcoin is moving only when the crypto whales wants to. But when they're cooling down trying to simulate stabillity to attract serious investors, traders should come storming disturbing the range. But it is look like nobody big is gambling hard on this crap lately.

Bitcoin, whatta hoax, ...anarchist's and cyber-wankers' dream !
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