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: First Mover: Bitcoin Catches Almighty Dollar Even During 2020’s Dash for Cash

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: Market Wrap: Oil Rebounds As Crypto Makes Gains, Especially Ether

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

• Stablecoins Aren’t Inflating Crypto Market, Study Concludes
• Bitcoin Approaches $7K as US Passes New $480B Stimulus Package

• 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: Market Wrap: Oil Rebounds As Crypto Makes Gains, Especially Ether

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: Stablecoins Aren’t Inflating Crypto Market, Study Concludes

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 Approaches $7K as US Passes New $480B Stimulus Package
• First Mover: What the Oil Price Collapse Means for Bitcoin’s Halving Valuation

• 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: Stablecoins Aren’t Inflating Crypto Market, Study Concludes

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 Approaches $7K as US Passes New $480B Stimulus Package

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: What the Oil Price Collapse Means for Bitcoin’s Halving Valuation
• Market Wrap: Oil in Turmoil, Bitcoin Gains Slightly to $6.9K

• 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 Approaches $7K as US Passes New $480B Stimulus Package

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: What the Oil Price Collapse Means for Bitcoin’s Halving Valuation

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

• Market Wrap: Oil in Turmoil, Bitcoin Gains Slightly to $6.9K
• First Mover: 10 Takeaways for Bitcoin From Negative Oil Prices

• 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: What the Oil Price Collapse Means for Bitcoin’s Halving Valuation

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: Market Wrap: Oil in Turmoil, Bitcoin Gains Slightly to $6.9K

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: 10 Takeaways for Bitcoin From Negative Oil Prices
• Bitcoin Under Pressure After Oil Prices Crash to Record Lows

• 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: Market Wrap: Oil in Turmoil, Bitcoin Gains Slightly to $6.9K

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: 10 Takeaways for Bitcoin From Negative Oil 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 Under Pressure After Oil Prices Crash to Record Lows
• Market Wrap: Oil Futures Plunge, Bitcoin Dips and Tether Has a $7B Day

• 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: 10 Takeaways for Bitcoin From Negative Oil Prices

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 Under Pressure After Oil Prices Crash to Record Lows

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

• Market Wrap: Oil Futures Plunge, Bitcoin Dips and Tether Has a $7B Day
• First Mover: Bitcoin Attracting More Buyers, Even With Market Stuck in ‘Extreme Fear’

• 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: Market Wrap: Oil Futures Plunge, Bitcoin Dips and Tether Has a $7B Day

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 Attracting More Buyers, Even With Market Stuck in ‘Extreme Fear’

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 Volatility at 3-Month Low as Market Awaits Big Price Move
• Hong Kong’s First Regulator-Approved Bitcoin Fund Targets $100M Raise

• 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 Attracting More Buyers, Even With Market Stuck in ‘Extreme Fear’

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 Volatility at 3-Month Low as Market Awaits Big Price Move

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

• Hong Kong’s First Regulator-Approved Bitcoin Fund Targets $100M Raise
• Crypto Long & Short: The Battle of the Yields

• 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 Volatility at 3-Month Low as Market Awaits Big Price Move

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: Hong Kong’s First Regulator-Approved Bitcoin Fund Targets $100M Raise

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

• Crypto Long & Short: The Battle of the Yields
• Bram Cohen: ‘Getting Rich Is a Terrible Metric of Success’

• 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: Hong Kong’s First Regulator-Approved Bitcoin Fund Targets $100M Raise

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: The Battle of the Yields

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

• Bram Cohen: ‘Getting Rich Is a Terrible Metric of Success’
• Market Wrap: Crypto Mining Stock Hut 8 Jumps on Unusually High Trading Volume

• 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: The Battle of the Yields

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: Bram Cohen: ‘Getting Rich Is a Terrible Metric of Success’

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

• Market Wrap: Crypto Mining Stock Hut 8 Jumps on Unusually High Trading Volume
• Bitcoin Halving Searches on Google Hits All-Time Highs

• 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: Bram Cohen: ‘Getting Rich Is a Terrible Metric of Success’

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: Market Wrap: Crypto Mining Stock Hut 8 Jumps on Unusually High Trading Volume

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 Halving Searches on Google Hits All-Time Highs
• First Mover: Stablecoin Surge Might Herald Bitcoin Binge

• 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: Market Wrap: Crypto Mining Stock Hut 8 Jumps on Unusually High Trading Volume

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 Halving Searches on Google Hits All-Time Highs

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: Stablecoin Surge Might Herald Bitcoin Binge
• Bitcoin Options Trading Hits One-Month High as Price Turns Bullish

• 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 Halving Searches on Google Hits All-Time Highs

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: Stablecoin Surge Might Herald Bitcoin Binge

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 Options Trading Hits One-Month High as Price Turns Bullish
• Market Wrap: Ether Making Big Gains as Stablecoins Proliferate on Ethereum

• 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: Stablecoin Surge Might Herald Bitcoin Binge

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 Options Trading Hits One-Month High as Price Turns Bullish

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

• Market Wrap: Ether Making Big Gains as Stablecoins Proliferate on Ethereum
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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: Market Wrap: Ether Making Big Gains as Stablecoins Proliferate on Ethereum

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: Open Interest in CME Bitcoin Futures Rises 70% as Institutions Return to Market

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: Coronavirus Trillions Get Bitcoiners Wondering if Halving Still Matters
• Bitcoin Price Spikes Above $7.1K, Liquidating $23M on BitMEX

• 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: Open Interest in CME Bitcoin Futures Rises 70% as Institutions Return to Market

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: Coronavirus Trillions Get Bitcoiners Wondering if Halving Still Matters

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 Price Spikes Above $7.1K, Liquidating $23M on BitMEX
• Ethereum Now Matches Bitcoin on One Key Metric

• 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: Coronavirus Trillions Get Bitcoiners Wondering if Halving Still Matters

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 Price Spikes Above $7.1K, Liquidating $23M on BitMEX

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

• Ethereum Now Matches Bitcoin on One Key Metric
• Market Wrap: Bitcoin Price Volatility Declines in Contrast to S&P 500

• 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 Price Spikes Above $7.1K, Liquidating $23 Million on BitMEX

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: Ethereum Now Matches Bitcoin on One Key Metric

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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