Bitcoin Keeps Sideways Movement
On Thursday, September 9, at the end of the day, bitcoin closed in the black by 0.75%. The BTC/USD pair remains in a sideways trend with the boundaries of $45500-47400. Given that the market is thin, sellers can easily move the lower limit by $44500.
The price has been in a sideways trend for almost three days – it revolves around the level of $ 46350.
The longer the flat lasts in a limited range, the greater the uncertainty and the higher the probability of sharp fluctuations (breaking stops above / below the channel boundary). Considering that the price is consolidating under the level of 50% of the fall from $52920 to $42843, then on the hourly timeframe, the sellers control the market. A bullish trend persists on the daily timeframe and older.
On Thursday, September 9, the dollar index closed with a decline and falls on Friday. Stock index futures are rising. The appetite for risk persists. The share of bitcoin is 40.88%. Traders and investors have taken a wait-and-see position and are looking for some portion of news to get out of the range.