Was the trip to $28,500 a real BTC 'reversal' point?
Still in a tight range, Bitcoin largely followed United States equities during the Aug. 7 Wall Street trading session.
Despite a lack of enduring momentum in either direction, market participants looked for signals that a return of some sort of trend could already be here. For popular trader Jelle, these took the form of a potential falling wedge breakout on daily timeframes.in part of the day’s analysis. The wedge in question began at the start of July and marks Bitcoin’s second in as many months, another being in place from April toward the end of June.Michaël van de Poppe, founder and CEO of trading firm Eight,“Immediately flipped back, decent daily candle. Let’s see what CPI will bring on Thursday,” he added.— the July print of the U.S. Consumer Price Index — which is traditionally a crypto market volatility catalyst.
On intraday timeframes, the picture was mixed as ever, as a game played out between market makers and takers on exchanges.
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