Bitcoin for range trading, why you can’t go up or down[Cryptocurrency market]

author Yasuo MatsudaFXcoin Senior Strategist

After working at Mitsubishi Bank (Headquarters, Bancock Branch) and Deutsche Bank Group (Singapore, Tokyo), he has been in his current position since July 2018.Familiar with a wide range of financial markets such as short-term countries, repos, foreign exchange, US Treasuries, European bonds, and MBS

Review

Frustration in a narrow range

BTC market prices on weekends are in conflict. After lowering the price from $ 47,000 to $ 44,000 from Friday to Saturday, trading in a narrow range of about $ 45,000 to $ 46,000 thereafter. Followed. At CNBC on Thursday, Blackrock’s investment manager pointed out room for BTC upside, the ECB board decided to reduce bond purchases and the dollar weakened thereafter, and it rose to the middle of $ 47,000. Reuters reported that it had slowed down on the dollar, the US stocks continued to fall, and the US Treasury was in talks with financial officials to regulate stablecoin, and the price dropped to the $ 44,000 level by Saturday. However, it was lowered due to the continued positive factors such as the launch of Gumi’s $ 100 million crypto asset fund, the public pension crypto asset investment plan in Fairfax County, Virginia, and the purchase of crypto assets at the UK post office. When it stopped, BTC temporarily recovered $ 46,000 as Polkadot (DOT) rose sharply on Sunday. When DOT fell this morning, BTC also broke down, but it has stopped declining due to the rebound of DOT.

The insights and interpretations of this article are by the author and do not necessarily reflect the views of Cointelegraph.