Bitcoin markets keeps on trading with remarkable stability as bitcoin price has stuck in tight range for already three weeks. So far market doesn’t display any intention to leave the range of $6325-$6465. This is a clear market flat. Bitcoin retains the stability in term of capitalization as well, as level of capitalization is the same as a week prior, it amounts 112 billion dollars for bitcoin. The capitalization of entire crypto market is around 208 billion dollars. Given the close strategical support around $6000 and bitcoin stability, we consider accumulating more longs around current market rate, as the breakthrough from this consolidation is likely to be in upper direction. It’s a question of time.
Trading recommendation – long at current market levels