RATE Group | Bitcoin Establishes Firm Trading Range as Volatility Abounds; Factors & Trends
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Bitcoin Establishes Firm Trading Range as Volatility Abounds; Factors & Trends

30 Jul Bitcoin Establishes Firm Trading Range as Volatility Abounds; Factors & Trends

Posted at 00:39h in Bitcoin News by

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Bitcoin and the aggregated crypto markets have once again incurred an influx of volatility that has extended the instability that was first incurred just over one week ago when BTC sharply moved towards $11,000 but failed to sustain this movement.

Now, analysts are noting that Bitcoin’s recent trading action has allowed it to form a firm trading range that is likely to persist for the near-future, which may give traders insight into where the volatile crypto is heading next.

Bitcoin Faces Choppy Trading Session Between Tight Trading Range 

At the time of writing, Bitcoin is trading up nominally at its current price of $9,560, which is up slightly from its daily lows of $9,200 and is down slightly from its daily highs of nearly $9,700.

Over a one-week period, BTC has found itself in a wide range between $9,200 and $10,400, forming multiple “bart” patterns through this time period. Importantly, it does appear that Bitcoin has found strong support around $9,200.

This volatile week…

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