TRADERS FORECAST BITCOIN WILL SEE A “COOL-DOWN PERIOD” AS RALLY OVERHEATS

TRADERS FORECAST BITCOIN WILL SEE A “COOL-DOWN PERIOD” AS RALLY OVERHEATS

Gate Trade News Friday, November 20, 2020 23 0

Bitcoin has been caught within the throes of a consolidation phase ever since its price exploded up to its recent highs of $18,600

 

The selling pressure that existed here was significant and sparked a $1,000+ move lower that was eventually absorbed by bulls

 

This price action has done little to provide insight into its near-term outlook, as both bulls and bears have shown signs of strength

 

Whether or not it can break and hold above $18,000 should provide serious insights into its near-term outlook.