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Bitcoin Drops Down To The Lower End Of Months-Long Trading Range

Emily Mason

Summary: Bitcoin has been locked in a short-term downtrend after facing resistance at $9,800, Bitpush data shows. At the time of writing Bitcoin is trading hands at $9,340. The current price is at the lower end of the currency's months-long trading range between $9,000 and $10,000. One popular trader noted in a tweet that BTC could ...

Bitcoin has been locked in a short-term downtrend after facing resistance at $9,800, Bitpush data shows. At the time of writing Bitcoin is trading hands at $9,340.

The current price is at the lower end of the currency's months-long trading range between $9,000 and $10,000. One popular trader noted in a tweet that BTC could be forming a pattern from just before its crash in March. If the pattern comes to fruition, traders could be in for significant downside.

However, even if the pattern is validated it is unlikely the losses will be as great as in March.

By Emily Mason

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