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A Critical 30% Bitcoin Breakout Is Weeks Away: Volatility Analysis


A Critical 30% Bitcoin Breakout Is Weeks Away: Volatility Analysis

As repeated time and time again by analysts, Bitcoin is currently in no man’s land. The cryptocurrency remains above the $8,500 support while below the resistance region at $10,000-10,500. Price has responded in kind, flatlining in the low-$9,000s as neither bulls and bears have managed to establish a trend. Yet a volatility analysis predicts that a massive move in the Bitcoin market is brewing.


Bitcoin Volatility Analysis Suggests An Imminent 30% Move

Blockroots co-founder Josh Rager noted on July 12th that Bitcoin’s historical volatility index is currently nearing 40. This is important as every time “BTC volatility [was] this low, [there was] major price action between 30% to 60% movement in the following weeks.” The chart below depicts this trend. Before Bitcoin crashed 60% from the $9,000s to $3,700 earlier this year, the historical volatility index briefly dipped under 40. And prior to the Bitcoin price explosion at the start of the 2019 bull run, historical volatility fell under 40. Read More...



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