Exploding lava flow in Hawaii
0

Bitcoin is trading inside a tight range with its 10-day realized volatility dropping to a year-to-date low of 30 percent.

Bitcoin has been trading sideways in a tight price range since the beginning of May 2020.

Read More Stories: This Is How The Ideology of Bitcoin Investors evolved since 2016

The Bitcoin price is fluctuating inside a trading range of $9,000 and $10,000 now for more than a month, data on TradingView.com shows.

“Extreme volatility compression is still active on Bitcoin, which means that the recent pump has to be treated with extreme suspicion,” said one analyst.

“The price can explode to the downside at any moment until Bitcoin has surpassed $9,800+ again.”

As shown in the chart above, Bitcoin is trading inside a symmetrical triangle, its price fluctuating within the pattern’s contracting upper and lower trendlines.

Read This: Anti-Money Laundering Bitcoin Project Founder was charged with Money Laundering

There Are Reasons to Be Bullish After Bitcoin Crashed $600 on Tuesday Yesterday, investors were expecting for Bitcoin to re-enter a decisive uptrend.

Venezuela’s Government is Currently Testing Bitcoin As Payment Option for Passports

Previous article

3,500 Australian Post Offices Are Now Accepting Bitcoin

Next article

You may also like

More in Bitcoin News

Comments

Leave a reply

Your email address will not be published. Required fields are marked *