Bitcoin remains with low volatility, although it is showing signs of recovery and the price is beginning to go up again. According to our indicator CH ATR, volatility levels in a 1-hour chart remain below 0.8%, our volatility threshold for this candle size.
Even though the price seems to be slowly trending up, it still finds itself ranging between S1 and R1. Unless this range is broken, the price won’t show higher volatility signs and therefore trading opportunities.
BTC broke downward the trend line and now it is making a retracement to it and R1. If the price can break it upward and make the pull-back, the chances to go to the next resistance at $10,200 are very high.
On the other hand, if it cannot break it and we have low volume the price will be likely to retrace until the S2 at $8,800.
Even though the price seems to be slowly trending up, it still finds itself ranging between S1 and R1. Unless this range is broken, the price won’t show higher volatility signs and therefore trading opportunities.
BTC broke downward the trend line and now it is making a retracement to it and R1. If the price can break it upward and make the pull-back, the chances to go to the next resistance at $10,200 are very high.
On the other hand, if it cannot break it and we have low volume the price will be likely to retrace until the S2 at $8,800.