Bitcoins historically low volatility in connection with the limited liquidity and limited Trading volume create the perfect storm for a massive movement.Several technical indicators confirm that this sideways is likely to move in the near future – including the Bollinger bands, the crypto-currency, which are so closely since November of 2018, not more.An Analyst is expected within the next three days, a “monsters outbreak” in Bitcoin.This could bring the reference digital value is above a critical trend line, which he has formed on its daily Chart and may lead to BTC in the coming days and weeks, still have significantly more upside potential looks.
Bitcoin is stagnating in the last few weeks and had trouble getting a clear pulse, while he is trading in the lower to 9,000 Dollar range.
The consolidation channel of the Assets has been compacted in the course of the last month, since it had previously recorded relatively large fluctuations between 9,000 and 10,000 USD.
This lackluster price action was triggered by the declining trading volume and lower liquidity, as analysts currently rely largely on Altcoins.
An Analyst expects that Bitcoin will experience in the next three days, a “monsters outbreak” that could set the tone of where the Asset in the remainder of the year will develop.
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Bitcoin approaching major trend line
At the time of writing, Bitcoin is listed for the price of 9.150 $. The crypto currency has moved in the past week between 9.100 and 9.200 $, since both buyer and seller are at an impasse.
Before BTC between these two levels of moving, he had formed a channel between 9,000 and 9,300 $.
Where he designed next, could largely depend on whether the buyers can push it above a descending trend line, under the he was caught in the last few months – or not.
BTC should break it, this could trigger a new upward trend for the embattled crypto-currency.
An Analyst she is currently writing about it on Twitter, and a graph, according to which BTC is on the verge of sharing, this level of break through.
“Bitcoin daily Chart – Test of trend line resistance”
Image courtesy of Big Cheds. Chart on trading view.
Analyst: BTC will probably experience a massive outbreak
Another Analyst believes that Bitcoins current positioning between a plurality of key levels, in conjunction with the pressures of the Bollinger bands, indicating that a massive movement is brewing.
The Analyst, referring to the Chart below shown factors:
“BTC-Monster outbreak within the next 3 days imo”
Image courtesy of CryptoBirb.
As you can see above is The first target, he seems to be watching is at $ 10,500. Once it is taken, will be the reaction of Bitcoin on the high time frame resistance is crucial for the determination of the macro-trends.