RATE Group | Bitcoin Rally Is Around the Corner Based on This Volatility Indicator
56424
post-template-default,single,single-post,postid-56424,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Rally Is Around the Corner Based on This Volatility Indicator

31 Jul Bitcoin Rally Is Around the Corner Based on This Volatility Indicator

Posted at 19:22h in Bitcoin News by

[ad_1]

Bitcoin has been relatively quiet ever since it posted its 2019 high of $13,880 on June 26. From that point, the market has been on a steady pullback with a few short-lived rallies. Experienced traders would call the price action as “choppy,” where there are no big moves and the trend is mostly sideways.

A choppy market is not exciting for day traders because there are no wild swings to profit from. It is also boring for momentum traders and trend followers because they have to wait for the resumption of the trend.

We looked at the charts and it seems that the days of dull trading are numbered. Bitcoin appears ready to make a big move soon and it is leaning toward the side of the bulls.

The Bitcoin Historical Volatility Index Closing in on the Support

The Bitcoin Historical Volatility Index (BVOL) has been on a downward spiral ever since it skyrocketed from a low of 4.38 to a high of 14.06 on the same day, June 26. That’s the same day bitcoin printed its 2019 high.

Before the…

[ad_2]

Source link

Tags:
, , , , ,