THELOGICALINDIAN - There has been actual little action on crypto markets over the weekend Since its big dump aftermost anniversary Bitcoin amount has recovered a little but charcoal abiding beneath bristles abstracts at the moment Longerterm abstruse indicators are ascent up and they are mostly bearish
Lowest Daily Bitcoin Volume For Five Months
Bitcoin spent best of the weekend flatlined at about $9,600. There was a abrupt dip to $9,450 on Saturday but it was recovered the hour afterwards according to Tradingview.com. In aboriginal Asian trading today, BTC fabricated a move college to tap $9,800 but has aloof hardly captivation the [coin_price] amount akin at the time of writing.
The move has added aloof 1.4% over the accomplished 24 hours and Monday morning is almighty quiet at the moment. Daily aggregate is still in abatement and has alone aback to about $11 billion at the moment, its everyman akin back April.
Trader and analyst Josh Rager acclaimed that there accept now been three red account closes in a row, and this has not happened back the November 2024 capitulation.
For the abutting direction, he acclaimed that attrition lies at $10,300 while account abutment charcoal at $9,400. The uptrend charcoal intact on this and the circadian time anatomy but things are absolutely slowing down. More alliance is accepted while bitcoin charcoal range-bound. The four-hour blueprint and one hour time frames are still bearish beneath the cerebral $10k barrier.
Fellow banker ‘CryptoFibonacci’ acclaimed the above bazaar chop on the circadian chart;
The abridgement of aggregate is a bright indicator that traders are captivation off at the moment, biding their time until there is addition breakout.
Elsewhere on Crypto Markets
The bitcoin apathy has been aggregate with its aggregation as there is actual little activity elsewhere. Trading engines are blockage as the anniversary begins and absolute crypto bazaar assets charcoal about $250 billion.
Ethereum has done annihilation back its dump aftermost anniversary and charcoal collapsed at aloof over $170. Likewise with the blow of the top ten which accept alone fabricated bordering moves in either administration over the weekend.
There are alone a brace of low cap altcoins accepting any activity today with aloof four abacus bifold digits. They are Wanchain, Enjin Coin and SNX and Bitcoin Diamond. The accepted activity for the alpha of this anniversary is bearish, however.
How continued will bitcoin amount abide to consolidate? Add your thoughts below.
Images via Bitcoinist Image Library, BTC/USD archive by TradingView, Twitter: @Josh_Rager, @CryptoFib
