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A “Huge” Bitcoin Move Is Imminent as Price Stalls in the Low-$9,000s


A “Huge” Bitcoin Move Is Imminent as Price Stalls in the Low-$9,000s

While Bitcoin has seen its fair share of short-term volatility, on a macro scale the cryptocurrency is still consolidating. The below chart from Blockroots founder Josh Rager, a crypto trader, displays this well. The chart shows that over the past ~seven weeks, BTC has been effectively trapped between $8,500 and $10,000. Each breakout has failed to lead to a follow-through. Yet the consolidation is reaching a breaking point: volatility indicators show that any day now, Bitcoin will finally move out of the range. And considering the length and magnitude of this consolidation, it could be “huge.”

Bitcoin Could Soon See a Massive Move, Analysts Say

According to the analysts at Bitcoin Bravado, a crypto research group, a “huge” move in these markets is coming: “BTC volatility is currently at historic lows as traders wait for a sign regarding where the next move is heading. […] Any time Bitcoin volatility gets this low, it usually means something huge is on the way. […] Suffice to say, the window for placing your bets is quickly narrowing.” Read More...



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