Bitcoin has traded between $6k and $6.8k (78.6% fib level) since early September, signifying a period of historically low volatility. However, this trend is unlikely to continue throughout Q4 2018.
Sentiment has turned strongly bearish. Many crypto traders expect the strong psychological support at $6k to be broken. Given the entry of institutional-grade exchanges (Bakkt by ICE) and landmark cases by CFTC, a contrarian long position is warranted for those with higher risk appetite.
Sentiment has turned strongly bearish. Many crypto traders expect the strong psychological support at $6k to be broken. Given the entry of institutional-grade exchanges (Bakkt by ICE) and landmark cases by CFTC, a contrarian long position is warranted for those with higher risk appetite.