Bitcoin

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 On-chain analytics firm <a href="https://twitter.com/glassnode/status/1680875530244042752" rel="noopener noreferrer nofollow">Glassnode</a> observes that Bitcoin might be entering its quietest market period since January. 
 This comes as the cryptocurrency market continues to see remarkably little volatility, with the classic 20-day Bollinger Bands experiencing an extreme squeeze. 
 <blockquote class="twitter-tweet"> 
 The digital asset market continues to see remarkably little volatility, with the classic 20-day Bollinger Bands experiencing an extreme squeeze.A price range of just 4.2% separates the upper and lower Bollinger bands, making this is the quietest <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> market since the lull… <a href="https://t.co/uryBT4s5HE" rel="noopener noreferrer nofollow">pic.twitter.com/uryBT4s5HE</a>— glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1680875530244042752?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 17, 2023</a> 
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 Glassnode noted that a price range of just 4.2% separates the upper and lower Bollinger bands, making this the quietest <a href="https://u.today/will-bitcoin-btc-crash-to-12000-heres-interesting-answer-by-crypto-analyst" rel="noopener noreferrer nofollow">Bitcoin market</a> since the lull in early January. 
 In the past week, the on-chain analytics platform reported that the Bitcoin 14-day price range has remained extremely narrow. 
 <a href="https://u.today/will-bitcoin-btc-crash-to-12000-heres-interesting-answer-by-crypto-analyst" rel="noopener noreferrer nofollow">card</a>&nbsp;The significance of this is that with Bitcoin rarely being quiet for such sustained periods, the probability of a volatile move in either direction is enhanced. 
 At the time of writing, <a href="https://u.today/bitcoin-btc-eyes-37k-as-crypto-trader-reveals-rare-price-formation" rel="noopener noreferrer nofollow">BTC</a> was marginally down in the last 24 hours to $30,185. Traders anticipate the next move on the market as hopes of a possible Bitcoin spot ETF revive. 
 According to reports, the latest Bitcoin exchange-traded fund (ETF) applications are now being reviewed by the U.S. Securities and Exchange Commission (SEC). 
 <h2 id="imminent-big-move">Imminent big move?</h2> 
 As reported by <a href="https://u.today/legendary-trader-john-bollinger-says-bitcoin-btc-getting-squeezed" rel="noopener noreferrer nofollow">U.Today</a>, legendary trader John Bollinger, who is the creator of the Bollinger Bands, noted in a tweet that Bitcoin was being squeezed. 
 <a href="https://u.today/legendary-trader-john-bollinger-says-bitcoin-btc-getting-squeezed" rel="noopener noreferrer nofollow">card</a> 
 The Bollinger Bands serve as a gauge of volatility and probable price levels where an asset may encounter support or resistance. 
 Simply put, the "squeeze" implies that Bitcoin is sandwiched between the upper and lower bands of the Bollinger Bands indicator. Such circumstances frequently signal big price changes, either up or down.
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Bitcoin (BTC) Now Extremely Squeezed, On-chain Data Hints at Significance

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U_Today

Інші статті, опубліковані 17 лип. 2023 р.

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