BTC is currently building some buying pressure, testing the 9.8k resistance level. In order to sustain this upward movement, bulls need to break through this level and hold it in order to target 10k+. Bitcoin is at the mercy of a spike in a decreasing volume environment where traps can oftenly occur.
We are still in a no trade zone between 9.5k and 9.8k. We need an increase in volume momentum in order to confirm the durability of the current movement.
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...... .
We are still in a no trade zone between 9.5k and 9.8k. We need an increase in volume momentum in order to confirm the durability of the current movement.
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...... .