Bitcoin down 4% as the bounce earlier in the week fizzles

Bitcoin down 4% as the bounce earlier in the week fizzles

Bitcoin falls by 4% to near $33,000

Bitcoin D1 01-07

The technicals dictate that Bitcoin is very much trapped between $30,000 and $40,000 right now and unless we see some push beyond those extremes, it is going to be tough to interpret any of the volatile moves in between.

Today is yet another day as the bounce earlier this week fizzles completely in a 4% drop towards $33,000 currently. There is some minor support closer to $32,000 but the important psychological level is that $30,000 level to the downside.

It is but anyone’s guess which side of this range price will break but when it does come, expect a violent and sharp move to follow and the trade is to go with it – if one has the appetite to embrace the volatility in cryptos that is.
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