- Bitcoin price on Thursday is moving like clockwork, trading broadly flat in the session.
- BTC/USD stuck within a 9 session trading range, a measly $150 swing being observed.
The Bitcoin price on Thursday was trading broadly flat, bulls failing to capitalize on the early upside momentum that was seen on Wednesday. Once again, the price was stopped short by some supply, within this mundane trading range.
BTC/USD maintains the $150 trading range, as has been the case for the past 9 trading sessions now, entering this stubborn state on 16 October. There are heavy buyers camped within $6300-50 area, and then chunky sellers seen from $6500-450 territory.
Should a breach be seen out of either respected supply/demand zones, there will be decent movement seen, given the length of time contained. A breakout from above supply could see a fast move towards $7000. To the downside, should the below demand area be broken, a quick fall a test of the key $6000 area will likely come into play.
BTC/USD 60-minute chart
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