BITCOIN: To CHALLENGE 3rd Resistance @10,000
Just few days ago, Bitcoin breached the 2nd resistance @7,800.
Now it's in the consolidation mode and the price dropped to $7,500 which is within the expected consolidation price range of 7,000 and 7,800. From here, Bitcoin will either simmer down back to its $6,000 range and stay there for a longer period of time or go up to $10,000 before the end of August.
As of writing though, something really unusual happened. Volume spiked to a level we have never seen before in its 10 year history. Take a look:
I hope this is not a glitch in the system. And if the jump in the volume is true, would this be enough to fuel the climb to $10,000? Afterall, the 10.8 million volume as of today is 20% higher than the December 2017 volume when Bitcoin hit its ATH of $19,500.
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Do you know where this volume is coming from? The data must be wrong, since there is very little price movement at the moment, which makes me doubt these numbers.
Good point. Both Poloniex and Binance do show a spike in volume but not as big as this one. It was a glitch I believe since today, it shows differently..