Bancor (BTNUSD) to Escape Dormancy Trap
BTNUSD Key Zones
Demand Zones: 8.300, 9.400
Supply Zones: 2.600, 3.900
BTNUSD is currently experiencing much volatility after having long stretches of market dormancy. Alongside this current period, only on two other occasions have the market experienced much volatility – at the inception of the coin and a period from 24th November 2017 to 18th July 2018, after which price relapsed back into dormancy. The dormancy can be observed in long stretches of sideways movement of price with miniature candlesticks below the 3.900 resistance line.
For the current period, the bulls rallied aggressively to eventually break the 3.900 resistance on the 17th of February, 2021. Immediately Bancor formed an ascending triangle pattern to shoot up even more beyond the reach of the 3.900 resistance to 9.400 resistance. BTN has since retained that...
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