Top traders go long after Bitcoin price rallies to key $11.5K resistance
Cointelegraph
Published Oct 11, 2020 08:39PM ET
Updated Oct 12, 2020 10:40PM ET
On Oct. 7 Cointelegraph reported that top crypto traders had kept a bearish stance since mid-September and at the time the Bitcoin (BTC) long-to-short ratio had reached its lowest level in 10 weeks. All of this changed in a matter of hours as soon as BTC broke through the $11,000 resistance.
Whenever Bitcoin's volatility gets too low, it usually signals that traders became too complacent. Naturally, there will be periods of range trading, but short-term unpredictability is Bitcoin's defining characteristic.
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Written By: Cointelegraph
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