This Mold Suggests Bitcoin Experience Soon "Max Pain Script"
The past few weeks have become increasingly uncertain about where the Bitcoin and crypto markets are going in the next phase;
A leading cryptocurrency analyst states that Bitcoin may be at the peak of entering a “maximum pain scenario” that has led BTC to trade tightly in an incredibly wide trading range until investors' interest in the market has dried up.
It is important to note that, although this may be a bit of a problem for the crypto in the near term, it may be the type of medium term price action required for Bitcoin to gain enough momentum to push the 2020 uptrend to new annual highs. .
Bitcoin On The Verge Of Entering A Huge Trading Range
At the time of writing, Bitcoin is trading just under 2% at its current price of $ 8,500, indicating a significant climb from the daily lows of $ 8,300.
It is important to note that BTC struggled to return to the $ 8,000 region as it fell below the lower limit of the $ 8,700 tight trade range, which it caught within a few days after the $ 8,200 rejection.
Increasing Range Limited Trading May Mark BTC Accumulation Stage
Although expanded traders of range-based trading can block investor sentiment and cause fear of another long-term downtrend, it is also possible to mark a build-up phase for savvy investors.
Rager also avoided this possibility in a later tweet and explained that the significantly intermittent trade has resulted in upward moves at the end of his previous matches.