Bitcoin finding support?
All things considered, it's a rather boring day in the markets. Volatility continues to decline along with the U.S. dollar, which at this point is failing to display the sort of shock and awe bounce off the bottom that many were expecting.
No doubt anticipation of the Fed meeting tomorrow and a new inflation regimen has something to do with that.
Bitcoin dipped below the channel that we were watching yesterday, but seems to have miraculously found support just above $11,000. For now, we have a classic range-trading market.
As you can see, if we take yesterday's moves into account, we're now trading in a $1,000 range between 11k and 12k. Of course, this graph probably looks more like an exercise in technical analysis than anything else.