Bitcoin Bullied Into Tighter Trading Range With Top at $11,800
- Analysis of $2.7 billion Bitstamp trades shows concentrations
- People ‘irrationally fixated’ on price levels: Oanda’s Erlam
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Bitcoin’s trading range is narrowing as speculators seek positions on the right side of a potential break-out.
Optimists are crowding into trades when it’s crossing above $10,000, while pessimists are looking to exit when it approaches $12,000, according to an analysis of Bitstamp’s volume-weighted prices over the past month.