Why This Data Metric Indicates Bitcoin Traders Should “Proceed with Caution”

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Bitcoin is now consolidating within the lower-$15,000 region following an intense selloff overnight During this time, bears attempted to invalidate the cryptocurrency’s market structure and push it below the lower-$15,000 region, but bulls have held strong Because this decline has been slow and mostly absorbed by buyers, there’s a strong possibility that it will be followed by further upside One indicator is flashing some warning signs to investors, with the average returns seen by traders putting the crypto in a “danger zone.” Although this doesn’t mean that any intense downside is imminent, it could signal that traders should “proceed with caution” – according to one analytics firm Bitcoin and the aggregated crypto market have been struggling to gain momentum throughout the morning, with fresh inflows of selling pressure slowing the recent uptrend. The benchmark digital asset rallied up to highs of $16,000 a couple of days ago before its momentum…

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