It’s a tough day to be trading crypto, it seems, with at least one Bitcoin trader comparing the $185 billion cryptocurrency’s price charts to a “penny stock.”
Garbage trading right now. Scalped a few profitable trades but it’s mostly just whales pumping and dumping.
Neutral for now, but death cross on 4 hour looming.
Order books are thin and this action makes #bitcoin look like a penny stock.
Bullish above $11k, Bearish below $9800 pic.twitter.com/BqYVl0qB7v
— Jacob Canfield (@JacobCanfield) July 19, 2019
Bitcoin: History’s Best Penny Stock?
Saying the four-hour charts were looking grim for cryptocurrency, Jacob Canfield complained that he couldn’t seem to make out this morning.
Responses were to his tweet were mixed.
I am with you.. choppy as shit right now
— Easy as 1,1,2,3 (@FiboSwanny) July 19, 2019
At least one other trader thought there might be a silver lining:
The battleground is the 45m timeframe, below 45 all golden crosses above 45min death crosses, the 45-minute time frame shall decide. The MACD looking a bit hopeful.
— CryptoGats (@Cryptogato1) July 19, 2019