Search for:
  • Home/
  • News/
  • BTC bottoms out, analysts predict, and we’ll see ‘historic expansion’

BTC bottoms out, analysts predict, and we’ll see ‘historic expansion’

Bitcoin’s volatility (bitcoin) has been further reduced: how long will this static state last?

BTC/USD chart, one-hour candles. Source: TradingView

Bitcoin: “I’m looking forward to another classic ‘bulky’ weekend”

datas Cointelegraph Markets Expert And Trade View It marks the start of a flat weekend for Bitcoin. Following the weak response to the release of US macroeconomic data, BTC/USD pair holds close to $29,500 as a key battleground between bull and bear.

Looking forward to another classic ‘bulky’ weekend around CME closing price [29.465$],” he commented in his final analysis: Trader Daan Crypto Trades.

BTC/USD chart. Source: Daan Crypto Trades/X

The lack of movement over the weekend came as a surprise to experienced traders. Among them is Michaël van de Poppe, founder and CEO of Eight trading company. in X, the analyst wrote:

“I find Bitcoin’s recent price action very surprising. I continue to see bullish momentum: I think we hit rock bottomWe are not going through a heavy correction.

But if we lose $29,000 I will definitely buy at $28,200. Convert $29,700 = time to celebrate.”

BTC/USD chart. Source: Michaël van de Poppe/X

Maartunn, a contributor to on-chain analytics platform CryptoQuant, was also featured opening long positions by some Bitcoin whales:

“Another big long position, this time in Deribit.”

However, it points Material Indicators on XThe BTC/USD order book on Binance signals that the asset’s range-based movements may continue for a while: “Volatility may start to increase near the weekly close/open. The ‘buy at the bottom, sell at the rip’ conditions seem to have not changed.

BTC/USD order book on Binance. Source: Priority Indicators/X

Bitcoin Approaches “Historical Compression”

But traders on social media predict that this lack of volatility may not last long. In this context, the analyst TechDev commented: “Bitcoin approaches historical compression levels Three weeks above the 20-period moving average.An accompanying chart shows BTC’s movements following similar events in the past – in the asset’s history, this has only occurred four more times.

This Trusted Crypto traders to accept: “History compression causes history expansion. How would you look at a chart like this and think, ‘Yes, it will go down to $10,000’? BTC is a tick-tock time, the explosion of which will cause the extinction of bears.

BTC/USD chart. Source: TechDev/X

Leave A Comment

All fields marked with an asterisk (*) are required