CryptoWatch: Another wave of selling could be on the horizon, bitcoin analyst says

Coming off last week’s lull, bitcoin traders hoped the market would provide them with some direction. That wasn’t been the case.

The No. 1 digital currency is on track to top last weeks’ record tight range for 2018, having not traded outside of the $7,300 to $7,800. In fact, as of late Friday, the bottom-to-top range for bitcoin this week is just 5.3%.

A single bitcoin BTCUSD, -0.23% last changed hands at $7,640.54, down 0.3%, since Thursday 5 p.m. Eastern Time on the Kraken crypto exchange.

Read:If bitcoin is a bubble, the ‘panic’ stage is near: economist

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