Bitcoin has seen some of the most boring price action it has witnessed in over a year.
After ranging between $9,000 and $10,000 for over two months, the cryptocurrency has now narrowed its trading range to between $9,000 and $9,300, with BTC primarily just hovering around $9,100.
The benchmark digital asset is showing few signs of breaking this trend anytime soon, but one analyst does believe that this could mark the “calm before the storm.”
So. what do you think?
Actually not one, but many analysts are saying that the market is going to take a sharp turn and it can be on either side of the chart, up or down. I feel like the chances of the price going lower are pretty less after the strong support that was shown recently when the price fell below $9k and it again went up after some time. Now we have to check for the resistance at the $9500 level and after it, the chances of the dump market will be close to nil. So this is surely the calm before the storm and we can see a huge pump if the bears break the resistance.