BTC's latest price action signals considerable confusion in the market in a shift away from the recent dominance of the bulls.
BTC's latest price action signals considerable confusion in the market in a shift away from the recent dominance of the bulls.Thursday's high wave candle indicates confusion, a shift away from the recent dominance of the bulls.
The confusion is evident in BTC's trading on Thursday, as it finally rose to six figures, tapping record highs near $103,900 before plummeting to $91,100, ultimately ending the day in UTC at approximately $97,000, data from TradingView and CoinDesk show. The trading range was so large that it engulfed all the price action since Nov. 20.
"The long upper shadows mean that sometime after the session's open, buying pressure thrust the security's price to an extended high. During the same session, selling pressure drove the price to a protracted low. Yet, by the session's close, the price returned almost to the opening price. That's confusion,"
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