Bitcoin (BTC) continued to trace sideways on Nov. 7 amid warnings that now’s “not the time” to promote BTC.
“Not the time to be promoting”
The pair had continued a flat interval over the weekend, as market members waited for indicators of volatility up or down.
Whereas impatience was palpable because the week drew to shut, phrases of warning got here from these eyeing longer timeframes and historic worth patterns.
“What goes on throughout a sideways interval for BTC like now? Patrons & sellers are exchanging cash with one another. Patrons purchase a bit. Sellers promote a bit,” Rekt Capital summarized to Twitter followers.
“But when you consider the place $BTC will go over the subsequent months: You realise now isn’t the time to be promoting.”
Others eyed the weekly shut for indicators of bullishness. For fellow common Twitter account TechDev, a two-week shut over a key Fibonacci stage would imply BTC/USD was echoing its progress fro
“Closing a 2-week candle above the 1.618 is what absolutely despatched 2013. Consolidating proper beneath now,” he noted Saturday.
On the similar time, the price-performance between 2017 and 2021 stays uncannily comparable — firmly putting this 12 months inside historic norms, as Cointelegraph reported.
Worth highs meet lows in consideration
Amid continued sky-high worth predictions, ETH/USD continued to construct on latest all-time highs, whereas others within the prime ten cryptocurrencies by market cap retained file peak ranges.
BTC goes to pump,
ETH goes to pump,
your shitcoin might be going to pump.
Be completely satisfied.
— Galaxy (@galaxyBTC) November 6, 2021