• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Analyst: Bitcoin Could Continue Flatlining as it Gears Up for Explosive Volatility

Cole Petersen by Cole Petersen
2 years ago
in Bitcoin
0
  • Bitcoin’s unrelenting trading range has offered investors few insights into its near-term trend
  • This range has persisted since the start of May, and isn’t showing no signs of letting up anytime soon
  • Overnight sellers did attempt to shatter the lower boundary of this trading range, although this was quickly reversed by ardent buyers who have since pushed it back to $9,400
  • It now appears that this consolidation trend could extend even further
  • The resolution to this sideways trading, however, is expected to be massive

Bitcoin’s consolidation phase almost came to a harsh end overnight when sellers pushed the crypto down towards its support within the lower-$9,000 region.

The defense of this level has since led it right back up to where it was trading at prior to this movement taking place, with this volatility doing little to offer insight into the crypto’s near-term trend.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Analysts are noting, much to the chagrin of traders, that this consolidation could last for many more weeks.

That being said, traders also believe that the resolution of this trading range will lead to explosive volatility, potentially kicking off a long-term trend.

Bitcoin Forms Incredibly Tight Trading Range as Analysts Eye an Explosive Movement

Bitcoin has been consolidating for nearly two months now, being unable to garner any decisive momentum as it drifts within the mid-$9,000 region.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

This consolidation phase first came about after the cryptocurrency faced a rejection at just over $10,000 in early May and was further solidified after posting countless other rejections within the lower-to-mid five figure price region.

At the time of writing, Bitcoin is now trading down marginally at its current price of $9,400.

Analysts do believe that this consolidation essentially marks Bitcoin coiling up to make an explosive movement.

One analyst recently put forth a chart showing just how tight this range has become as of late.

“BTC is likely going to blow up anytime soon,” he explained while pointing to the chart seen below.

Bitcoin

Image Courtesy of CryptoBirb. Chart via TradingView.

BTC Likely to Post Clear Trend Once Weeks of Consolidation Conclude

Another popular analyst spoke about this possibility in a recent tweet, also explaining that periods of prolonged consolidation historically always result in strong trends with clear directionality.

“One thing that you can count on if you are not sure of the direction for Bitcoin, After a period of compression i.e. realized volatility & ATM IV being relatively flatlined and stop fuel building at highs and lows, the move will have follow through. 2-week trend min IMHO,” he said.

Image Courtesy of Cantering Clark. Chart via TradingView.

As such, there is a strong likelihood that this next trend will be both large and sustainable.

Featured image from Shutterstock.

Charts from TradingView.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

CoinCorner's the Bolt Card, promotional image

The UK Goes Lightning: CoinCorner Offers The Bolt Card, Contactless BTC Payments

4 hours ago
Argentina

Argentina NGO Spearheads Mission To Educate High Schoolers About Crypto

22 hours ago
Russia

Russia To Legalize Cryptocurrency As Form Of Payment, Minister Says

1 day ago
Bitcoin

Bitcoin Open Interest Nosedives, But All Hope Is Not Lost

1 day ago
USDC Exchange Reserves Start Fall, Dry Powder For Bitcoin?

USDC Exchange Reserves Start Fall, Dry Powder For Bitcoin?

2 days ago
bitcoin

Bitcoin Fees Remain Low Despite Increased Activity, What’s Driving This?

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.