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.