The price action on bitcoin is quite interesting of late. Just as it looked like price was gonna break down and head toward a test of 25k - boom it put in a solid green day and grinds back in the tight range it initially hit after exploding off the 25K level.
High and Tight?
High and tight references a trader I used to know back in my days of being at a trading desk.
When the price moves up aggressively and then consolidates at the tope end of the move in a tight range.
He considered this to be very busy. Often it was. Is it the case for bitcoin right now, not sure.
This consolidation is getting a little long in the tooth as part of a near-term bull move toward the 30K area resistance.
We shall see if it pops off soon.
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Market indecessive at the moment but hoping for a pull pack before pump