BITCOIN IS HOLDING A PIVOTAL MACRO LEVEL, BUT DON’T BE BULLISH YET

BITCOIN IS HOLDING A PIVOTAL MACRO LEVEL, BUT DON’T BE BULLISH YET

Gate Trade News Monday, September 21, 2020 40 1

Bitcoin has entered no man’s land as it fails to pass $11,000 but is holding the low-$10,000s.

 

The coin now trades at $10,900 as of this article’s writing, again below the aoforementioned support.

 

Bitcoin actually may be in a positive spot, though, as it managed to hold a pivotal technical level of macro importance.

 

To some market participants, Bitcoin’s price action over recent weeks has been purely bearish. After all, falling $2,000 in about the span of 72 hours can’t be bullish, can it?

 

According to a recent Bollinger Bands analysis by a crypto trader, Bitcoin remains in a decent position on a macro time frame.