The 5 a.m. post said to stay cautious and bearish: if 7.546w breaks, look for a new low; the weekly decline won’t be over until we get back above 7.61w. Six hours later, price hasn’t touched either line.
Over those six hours, Bitcoin’s low was 7.555w and its high was 7.58w—a range of only about $200, even narrower than this morning. Trading volume is shrinking too: 24-hour volume has dropped from $12 billion to just over $10 billion.
So Big Brother’s view hasn’t changed: still cautious and bearish. A low-volume sideways market doesn’t mean either side has won; it just means everyone is waiting—for the U.S. stock market to open tomorrow night, and for CPI the night after.
In a weekend market with nobody at the wheel, the price usually gets knocked in one direction by news rather than finding its own way. Better to wait for a direction than to make wild guesses in the middle.
The two levels are still the same: 7.546w is the post-jobs-report low; if it breaks, look for a new low. 7.61w is the high from yesterday afternoon that price couldn’t hold above; getting back above it would mean things have started to recover.
Which way do you think price will break out of this narrow range? #BTC $BTC
Over those six hours, Bitcoin’s low was 7.555w and its high was 7.58w—a range of only about $200, even narrower than this morning. Trading volume is shrinking too: 24-hour volume has dropped from $12 billion to just over $10 billion.
So Big Brother’s view hasn’t changed: still cautious and bearish. A low-volume sideways market doesn’t mean either side has won; it just means everyone is waiting—for the U.S. stock market to open tomorrow night, and for CPI the night after.
In a weekend market with nobody at the wheel, the price usually gets knocked in one direction by news rather than finding its own way. Better to wait for a direction than to make wild guesses in the middle.
The two levels are still the same: 7.546w is the post-jobs-report low; if it breaks, look for a new low. 7.61w is the high from yesterday afternoon that price couldn’t hold above; getting back above it would mean things have started to recover.
Which way do you think price will break out of this narrow range? #BTC $BTC
