Traders look for volatility triggers as BTC price action continues within an all-too-familiar trading range.
Bitcoin (BTC) saw rejection at a key area of whale resistance into Oct. 7 as its strict trading range continued.
Charts point to impending breakout
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staging two attempts to crack $20,400, both meeting rejection.
The pair had crisscrossed the $20,000 mark during the week, with neither the bulls nor the bears able to effect significant trend disruption.
For Michaël van de Poppe, founder and CEO of trading firm Eight, that could be about to change.
“Big day today, unemployment data coming out,” he told Twitter followers on the day about forthcoming United States statistics:
“Price action to move heavily after that, I assume.”
Popular trader Cheds agreed that vol
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