The Bitcoin price was nursing minor losses of 0.60% in the latter stages of the session on Wednesday. BTC/USD price action is extremely narrow, as price moves within a triangular pattern, subject to a near-term breakout. Reports that big instributional players and high-net-worth individuals are buying behind closed doors. The Bitcoin price in the latter stages of trading on Wednesday was trading down by 0.60%. Price action has been somewhat muted, within a tight range. The case remains with a lack of commitment in trend, which could all change very soon. In interesting commentary, it was stated that an increasing number of institutional investors and high net-worth individuals are stocking up on Bitcoin over-the-counter. This statement was according to Cumberland’s global head of trading, Bobby Cho. These types of transactions being done behind closed doors. The liquidity just isn’t sufficient enough to process multi-millions dollar orders, for large institutions and investment firms. Should a trading platform process such sheer volume, it could have a large impact on the short-term price action for cryptocurrencies. BTC/USD as mentioned is narrowing on a daily basis in terms of price action. It has been moving within a triangular pattern. Resistance to the upside seen at $6660, the upper descending trend line, in proximity to the 50 and 100DMAs. Support to the downside is eyed at $6245. BTC/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Gold: Fed Powell adding to the recipe for lower prices FX Street 4 years The Bitcoin price was nursing minor losses of 0.60% in the latter stages of the session on Wednesday. BTC/USD price action is extremely narrow, as price moves within a triangular pattern, subject to a near-term breakout. Reports that big instributional players and high-net-worth individuals are buying behind closed doors. The Bitcoin price in the latter stages of trading on Wednesday was trading down by 0.60%. Price action has been somewhat muted, within a tight range. The case remains with a lack of commitment in trend, which could all change very soon. In interesting commentary, it was stated that an… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
