Today’s Bitcoin Drop Driven by Massive Volume Influx

News BTC | Sep 16, 2019 at 11:00 PM
  • Bitcoin has been facing a bout of sideways trading for the past several days, but today’s drop to below $10,200 may spell trouble for the cryptocurrency’s near-term price action and may point to the possibility that BTC will soon revisit its nearest level of major support at $10,000.
  • This narrowing trading range may signal that a big movement – in one direction or another – is imminent.
  • The coming hours may prove to be illuminating for Bitcoin, as its trading volume points to the fact that bulls and bears are currently locked in a battle, and which side prevails in the coming days could set the tone for how BTC trends in the coming weeks and months.