CoinDesk Crypto

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: Bitcoin Drops as Traders See Bearish Signals in Futures Markets

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: Crypto Long & Short: DeFi and Traditional Finance Are Forming an Unlikely Friendship

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• Bitcoin Vaults: Developer Bryan Bishop Releases Prototype for Secure On-Chain Storage
• Bitcoin Ends Four-Week Winning Run With Drop Into Bear Territory

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: Crypto Long & Short: DeFi and Traditional Finance Are Forming an Unlikely Friendship

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: Bitcoin Vaults: Developer Bryan Bishop Releases Prototype for Secure On-Chain Storage

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• Bitcoin Ends Four-Week Winning Run With Drop Into Bear Territory
• First Mover: Bitcoin’s Market Cap Eclipses Citigroup’s as Yellen Calls for Big-Bank Dividend Cuts

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: Bitcoin Ends Four-Week Winning Run With Drop Into Bear Territory

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: First Mover: Bitcoin’s Market Cap Eclipses Citigroup’s as Yellen Calls for Big-Bank Dividend Cuts

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• More Profit-Taking? Bitcoin Price Sags 7% Ahead of Easter Weekend
• Coronavirus Has Erased 33% of Crypto Scammers’ Revenue: Chainalysis

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: More Profit-Taking? Bitcoin Price Sags 7% Ahead of Easter Weekend

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: Coronavirus Has Erased 33% of Crypto Scammers’ Revenue: Chainalysis

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• First Mover: As Fed Assets Top $6T, BitMEX Has Some Inflation-Busting Advice
• Profit-Taking Keeps Bitcoin in Tight Range as Fed Reopens Spigot

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: Coronavirus Has Erased 33% of Crypto Scammers’ Revenue: Chainalysis

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: First Mover: As Fed Assets Top $6T, BitMEX Has Some Inflation-Busting Advice

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• Profit-Taking Keeps Bitcoin in Tight Range as Fed Reopens Spigot
• Bitcoin Garners New Users as Governments Flood World With Fiat

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: First Mover: As Fed Assets Top $6T, BitMEX Has Some Inflation-Busting Advice

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: Profit-Taking Keeps Bitcoin in Tight Range as Fed Reopens Spigot

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• Bitcoin Garners New Users as Governments Flood World With Fiat
• What’s Next for Bitcoin After March’s Crash – CoinDesk Quarterly Review

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: Profit-Taking Keeps Bitcoin in Tight Range as Fed Reopens Spigot

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: Bitcoin Garners New Users as Governments Flood World With Fiat

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• What’s Next for Bitcoin After March’s Crash – CoinDesk Quarterly Review
• This Visa Card Gives Bitcoin Rewards on Dollars Spent

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: Bitcoin Garners New Users as Governments Flood World With Fiat

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: What’s Next for Bitcoin After March’s Crash – CoinDesk Quarterly Review

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• This Visa Card Gives Bitcoin Rewards on Dollars Spent
• First Mover: Bitcoin Cash’s Halving Was Dull – Bitcoin’s May Be Much the Same

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: What’s Next for Bitcoin After March’s Crash – CoinDesk Quarterly Review

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: This Visa Card Gives Bitcoin Rewards on Dollars Spent

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• First Mover: Bitcoin Cash’s Halving Was Dull – Bitcoin’s May Be Much the Same
• Bitcoin’s Bull Case Strengthens After Breaching Price Hurdle at $7.1K

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: This Visa Card Gives Bitcoin Rewards on Dollars Spent

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: First Mover: Bitcoin Cash’s Halving Was Dull – Bitcoin’s May Be Much the Same

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• Bitcoin’s Bull Case Strengthens After Breaching Price Hurdle at $7.1K
• Top Cryptos Edge Up as Derivatives Data Suggests Newfound Risk Aversion Among Traders

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: This Visa Credit Card Gives Bitcoin Rewards on Dollars Spent

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: First Mover: Bitcoin Cash’s Halving Was Dull – Bitcoin’s May Be Much the Same

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• Bitcoin’s Bull Case Strengthens After Breaching Price Hurdle at $7.1K
• Top Cryptos Edge Up as Derivatives Data Suggests Newfound Risk Aversion Among Traders

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: Top Cryptos Edge Up as Derivatives Data Suggests Newfound Risk Aversion Among Traders

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: First Mover: A Sneak Preview of Bitcoin’s Halving — in Real Time

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• Today’s ‘Halving’ May Be Non-Event for Bitcoin Cash Prices
• Bitcoin Tracks Stocks Up to $7.4K Before Sliding Back to $7.1K

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: First Mover: A Sneak Preview of Bitcoin’s Halving — in Real Time

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: Today’s ‘Halving’ May Be Non-Event for Bitcoin Cash Prices

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• Bitcoin Tracks Stocks Up to $7.4K Before Sliding Back to $7.1K
• Price Gap Between Sellers and Buyers Yawned During Bitcoin’s March Sell-Off, Study Finds

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: Bitcoin Tracks Stocks Up to $7.4K Before Sliding Back to $7.1K

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: Price Gap Between Sellers and Buyers Yawned During Bitcoin’s March Sell-Off, Study Finds

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• First Mover: Bitcoin’s Back in the Black for 2020
• Peer-to-Peer Crypto Exchange Paxful Now Lets You Trade Bitcoin for Gold

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: Price Gap Between Sellers and Buyers Yawned During Bitcoin’s March Sell-Off, Study Finds

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: First Mover: Bitcoin’s Back in the Black for 2020

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• Peer-to-Peer Crypto Exchange Paxful Now Lets You Trade Bitcoin for Gold
• Up 3%: Bitcoin Leaves S&P 500 Behind in Year-to-Date Recovery

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: First Mover: Bitcoin’s Back in the Black for 2020

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: Peer-to-Peer Crypto Exchange Paxful Now Lets You Trade Bitcoin for Gold

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• Up 3%: Bitcoin Leaves S&P 500 Behind in Year-to-Date Recovery
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• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: Peer-to-Peer Crypto Exchange Paxful Now Lets You Trade Bitcoin for Gold

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: Up 3%: Bitcoin Leaves S&P 500 Behind in Year-to-Date Recovery

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• Bitcoin Community Funds Italian Red Cross Medical Facility to Combat Coronavirus
• Bitcoin’s Future: Exactly How a Coming Upgrade Could Improve Privacy and Scaling

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: Up 3%: Bitcoin Leaves S&P 500 Behind in Year-To-Date Recovery

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: Bitcoin Community Funds Italian Red Cross Medical Facility to Combat Coronavirus

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• Bitcoin’s Future: Exactly How a Coming Upgrade Could Improve Privacy and Scaling
• Ether Rises to 28-Day High Amid Positive Sentiment for Coming ‘Eth 2.0’ Upgrade

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: Bitcoin’s Future: Exactly How a Coming Upgrade Could Improve Privacy and Scaling

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: Ether Rises to 28-Day High Amid Positive Sentiment for Coming ‘Eth 2.0’ Upgrade

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

• Bitcoin, Equities Markets Rally on Signs of Hope
• Ether-Bitcoin Price Volatility Spread Hits 4-Month Low

• Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact.
• Bitcoin’s volatility gauge has dropped to the lowest level in over six months. The low volatility period will likely end with a big move on the higher side, as a repeated defense of $7,850 is indicating seller exhaustion.
• A UTC close above $8,820 is needed to confirm a bullish reversal.
• A high-volume move below $7,850 would confirm range breakdown. However, an impending death cross, a bearish but contrary indicator, suggests the downside, if any, could be limited around $7,400.

Bitcoin’s struggle for clear directional bias looks set to end, with volatility hitting multi-month lows and the charts suggesting a big move could soon occur on the higher side.

The top cryptocurrency by market value has spent a better part of the last four weeks trading the range of $7,800 to $8,400.

A double bottom breakout on Oct. 9 had raised hopes of a move above $9,000. The ascent, however, stalled $8,820 on Oct. 11 following which prices fell back to $7,800.

Related: Bitcoin, Equities Markets Rally on Signs of Hope

Further, the cryptocurrency failed to draw bids above $8,300 over the last two days despite the bullish setup on intraday charts and retreated back to $7,920 during the Asian trading hours today.

With the lackluster price action, bitcoin’s 60-day daily return volatility, as calculated by Coinmetrics, has dropped to 2.58 percent – the lowest level since April 1.

The volatility gauge topped out above 5.5 percent in July and has been on a steady decline ever since, as seen in the chart below.

Related: Ether-Bitcoin Price Volatility Spread Hits 4-Month Low

An extended period of low volatility often paves the way for a big move on either side.

For instance, the 60-day volatility topped out at 5 percent in early January and fell to 2 percent on April 1 – a day before BTC broke in a bull market with a $1,000 rally to $5,000. Going back further, volatility has bottomed out quite a few times near or below 2 percent.

BTC, therefore, could soon adopt a strong directional bias. The risks are skewed in favor of a bullish move, according to technical charts.

Bitcoin dived out a contracting triangle in the last week of September, signaling a continuation of the pullback from June’s high of $13,880.

The ensuing sell-off, however, ran out of steam near $7,850 – the 38.2 percent Fibonacci retracement of the rally from $3,122 to $13,880 – over the last three weeks.

The repeated defense of the Fibonacci support indicates seller exhaustion. The indicators on the three-day chart are also echoing similar sentiments, as discussed on Tuesday.

BTC, therefore, could see a strong bounce, possibly to levels above $8,820 (Oct. 11 high) in the short term. That would invalidate the lower highs setup on the daily chart and open the doors for resistance at $9,320.

As of now, BTC is changing hands at $7,970 on Bitstamp, representing a 2.8 percent loss on a 24-hour basis.

The outlook would turn bearish if prices drop below $7,850 with strong volumes, confirming a range breakdown.

Even so, a big sell-off, similar to the $2,000 drop seen in September, looks unlikely, and the downside could be restricted near $7,430 (multiple daily lows in early June), as a contrary indicator is about to turn bearish, as seen below.

The impending death cross, a bearish crossover of the 50- and 200-day moving averages, has trapped sellers on the wrong side of the market in the past.

For instance, BTC had bottomed out near $220 with the confirmation of the death cross in mid-September 2015. Notably, the bear trap was formed 11 months ahead of the August 2016 mining reward halving – a price-bullish event.

Interestingly, the latest death cross is happening six months ahead of the reward halving and could mark a bottom in BTC.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; charts by Trading View

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