Bitcoin is Close to High Volatility Time
Bitcoin price stucked between 74K and 62K USD level. Market is boring when there is no volatility. Bitcoin price supported by 8-week moving average in a few weeks. It is one of major support level for Bitcoin. It shows us the midterm trend.
Here you can see weekly chart of Bitcoin. I shared an analysis about 8-week moving average a few days ago. Bitcoin tested 2 times in last month. Today Bitcoin tried to touch this level again...
8-week moving average is at 66K USD level. If we see weekly close below this average, the middle line of Bollinger Band will be major supporter for Bitcoin price. I can not imagine what altcoins will do If Bitcoin price touches this support line..
When we look at dailt chart of Bitcoin we can say that we are too close to high volatility of Bitcoin price. Here you can see the indicator below.
The bottom of price is getting higher during the bottom of MACD Indicator losing power. That means possitive divergence for price. We may see pump on Bitcoin price chart. You can also see MACD Indicator is trying to reversing up.,
There is downtrend line on daily chart of Fisher Indicator. It will be broken up in a few days. We may see price pump if that happens.
These are bullish volatiliy scenarios for Bitcoin price chart.
We can see bullish scenarios on daily chart of Bitcoin, bearish scenarios on weekly chart of Bitcoin.
So, volatility is coming soon.
We will see...
Thank you, friend!
I'm @steem.history, who is steem witness.
Thank you for witnessvoting for me.
please click it!
(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)
The weight is reduced because of the lack of Voting Power. If you vote for me as a witness, you can get my little vote.
Congratulations, your post has been upvoted by @upex with a 0.40% upvote. We invite you to continue producing quality content and join our Discord community here. Keep up the good work! #upex
It is really a time of good for bitcoin because I am so sure that in the next few weeks most especially after this bitcoin halving, there will be a surge up in the price of the bitcoin and generally in the crypto space
Always with excellent analyzes about bitcoin, without a doubt they are of great help in these moments of waiting. See you later, have a great week.
It's fascinating to see the intricate analysis of Bitcoin's price movement, especially with the focus on key support levels like the 8-week moving average. The tug of war between bullish and bearish scenarios paints a vivid picture of the market's anticipation for volatility. It's moments like these that remind us of the excitement that comes with the unpredictability of the crypto world. Here's to keeping a close eye on those charts and bracing ourselves for whatever twists and turns lie ahead! 📈💥