Today Bitcoin fell from $7500 to $6,700 and the price has not changed in the past 24 hours. It is at $6750 all the time.
Did something go very wrong with Bitcoin ?? -12% fall in one hour and then no trading till now..
It is normal for a market to be quiet most especially in the phase of uncertainty. The bear market is still very strong, no one knows what is next, TA is not aligning with the position of the market and the only thing we can rely on simply now is price action at certain support and that alone is still something one would really need to be very careful with as well. However, we are still going to end up getting the best from the market once it recovers anyway which as far as I am concerned is expected.
No change in any market usually indicates the uncertainly among traders. It means everyone is waiting for the further trend. It takes place usually at strong support and resistance levels. Because breaking those levels may lead to continuation of current trend and reverse back will bring new trend. As of now, we all also must wait for confirmation of trend.