• About Us
  • Privacy Policy
  • Contact Us
Subscribe
Lascena
Advertisement
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021LIVE
  • Videos
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021LIVE
  • Videos
No Result
View All Result
Lascena
No Result
View All Result

Bitcoin Volatility Declines to 1-Month Low; What to Expect?

February 2, 2021
in Bitcoin
Reading Time: 3min read
Bitcoin Volatility Declines to 1-Month Low; What to Expect?




Bitcoin expects to undergo major price swings in the coming sessions as its price volatility hits its lowest levels in more than a month.

The benchmark cryptocurrency has chartered lower highs and lower lows (wedge) since the beginning of January, and a lack of strong market bias has both bears and bulls scraping for clues. As a result, the volatility represented by Bollinger Bands width—a technical tool represented by +2, -2 standard deviations of an asset’s moving average—has hit its late December levels.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin volatility dips amid its price correction from near $42,000-high, as represented by CryptoHamster. Source: BTCUSD on TradingView.com

It is worth highlighting that a prolonged period of low volatility typically paves the way for a stronger directional bias. That means Bitcoin could soon witness big price moves in either direction.

Bullish Confluence

Analysts at independent trading firm TradingShot believes the cryptocurrency would move to the upside, based on complimenting bullish signals brought forward by its 50-period moving average. The BTC/USD exchange recently closed above the said wave while recalling its ability to provide a backstop of wild bull runs.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin’s 4H 50-SMA through recent history. Source: BTCUSD on TradingView.com

TradingShot noted the same in its recent note, calling the 50-period moving average “an important short-term indicator.”

“It has provided excellent support on Bitcoin’s late 2020 parabolic rise,” the analysts added. “In fact, as you see on the chart below, we can count 15 clear bounces since October 2020, and only 2 times it broke.”

They now expect Bitcoin to undergo “a sustainable uptrend” in February should the 50-period moving average holds strong. Meanwhile, TradingShot asserted that Bitcoin’s LMACD indicator alerts about a bullish crossover, which further increases the upside bias in the cryptocurrency market.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin market setup, as presented by TradingShot. Source: BTCUSD on TradingView.com

Bitcoin is now attempting to close above its 200-period moving average wave (orange) to confirm its extended bullish bias. A successful breakout move would have bulls test levels above $40,000 as their primary targets—amid higher volatility.

Bitcoin 1-D Chart

Meanwhile, Bitcoin’s one-day chart shows the price attempting to break above its Bollinger Bands’ middle band, representing the 21-day moving average.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin looks to close above its 21-day moving average. Source: BTCUSD on TradingView.com

A successful break above would have traders test the upper Bollinger Band as their short-term upside target. It is near $38,500. Conversely, a pullback from the middle band would risk sending the price back to the lower $31,000s.



Source link

Facebook0
Twitter0
Linkedin0
Print0
E-mail0
Yahoo Mail0
GMail0
SMS0
Messenger0
Tags: 1MonthBitcoinDeclinesExpectVolatility
Next Post
21Shares Launching First Polkadot ETP on SIX Exchange

21Shares Launching First Polkadot ETP on SIX Exchange

Ether Cryptocurrency Nears Record High Amid WSB Trading Buzz

Ether Cryptocurrency Nears Record High Amid WSB Trading Buzz

Don't Miss

CRYPTO DEFI 100X SICK GAINS OR BUBBLE READY TO BURST IN 2020? [The Brutal Truth]
Cryptocurrency Videos

CRYPTO DEFI 100X SICK GAINS OR BUBBLE READY TO BURST IN 2020? [The Brutal Truth]

by Lascena Cryptocurrency News Education
February 26, 2021
0

Crypto defi continues to be a big trend, but is this key niche poised for big gains or is the...

Read more
Ripple CTO Reveals He Made a $15.5 Million Mistake (XRP NEWS)

Ripple CTO Reveals He Made a $15.5 Million Mistake (XRP NEWS)

February 26, 2021
HISTORY IS REPEATING: Bitcoin Holders MUST WATCH This Video Before November 3rd, 2020

HISTORY IS REPEATING: Bitcoin Holders MUST WATCH This Video Before November 3rd, 2020

February 26, 2021
RTX 2060 Super GPU BEST GPU for Mining? Is the RTX 2060 Super better than 1660 Super? + Hashrates

RTX 2060 Super GPU BEST GPU for Mining? Is the RTX 2060 Super better than 1660 Super? + Hashrates

February 26, 2021
Coinbase Considers Bitcoin Creator A Risk To Business, Here’s Why

Coinbase Considers Bitcoin Creator A Risk To Business, Here’s Why

February 26, 2021

Lascena Cryptocurrency News Education

We have all the latest updated and legitimate information related to Blockchain, Cryptocurrency, latest market rates & trends, prices, new regulations along with every other thing that somehow related to crypto or digital currency market. Our main idea is to provide the kind of news that is original and at the same time, it can prove to be beneficial for our audience.

© 2020 lascena.ca

  • About Us
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021
  • Videos

© 2020 lascena.ca

  • bitcoinBitcoin(BTC)$47,670.001.22%
  • ethereumEthereum(ETH)$1,494.640.63%
  • cardanoCardano(ADA)$1.2414.46%
  • Binance CoinBinance Coin(BNB)$229.80-0.98%
  • tetherTether(USDT)$1.01-0.40%
  • PolkadotPolkadot(DOT)$33.578.39%
  • rippleXRP(XRP)$0.4415440.93%
  • litecoinLitecoin(LTC)$177.520.69%
  • chainlinkChainlink(LINK)$25.793.39%
  • bitcoin-cashBitcoin Cash(BCH)$495.461.19%