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By Glenn Williams, Jimmy He

Investors appear uncertain on market direction.

Bitcoin (BTC) was in decline for much of the day, with prices contracting 1%. Should prices by the end of Tuesday in negative territory this would mark the fifth consecutive day of declines, with each coming on below average volume (based on the 20-day moving average).

The average true range (ATR) of BTC movement has been in decline over this period as well, indicating that bitcoin is trading fairly tightly.

Low trading volumes in conjunction with narrowing trading ranges can indicate a lack of conviction, whether bullish or bearish. At the very least they can signal that investors are taking a wait-and-see approach.

In traditional markets, the Dow Jones Industrial Average declined 0.9% on the day, while the Nasdaq Composite and S&P 500 indices decreased 0.5% and 0.7%, respectively.

Bitcoin-heavy company MicroStrategy (MSTR), which reports earnings after the close of U.S. stock markets on Tuesday, was up 3% during intraday trading.

Ether (ETH) increased 1.4% on the day, reversing its 3% decline from a day prior, and ending a streak of four consecutive down days.

Altcoins were also in decline on Tuesday, with Polkadot’s DOT token falling 3% while Polygon’s MATIC and Chainlink’s LINK fell 1.62% and 3.25%, respectively.

●Bitcoin (BTC): $22,924 +0.1%

 

●Ether (ETH): $1,635 +1.0%

 

●S&P 500 daily close: 4,091.32 −0.7%

 

●Gold: $1,779 per troy ounce +0.6%

 

●Ten-year Treasury yield daily close: 2.74% +0.1

Original Article – Coindesk

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