Not much action on the day after yesterday's decline during European mid-day
Yesterday's decline started around the time an hour from now, will we see the same today? On Coinbase's GDAX exchange, the low yesterday was $10,025 - just shy of the $10,000 level and that's where prices are trading around today as well.
Sellers are yet to take a real shot at the $10,000 for the second time after doing so earlier last week. Sentiment remains bearish as sellers stay in control since prices are unable to rebound above the 100 and 200-hour MAs for the time being.
But as I've said before, cryptocurrency trading is as much to do as a trade of human psychology as it is to do with technicals and charts. That $10,000 level is key. And for now, that's the support level buyers are clinging on to.
It's a quiet one in the cryptocurrency space today, but it feels more like we're seeing the calm before the storm (waiting for a break either way) more than anything else.
