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’s Approaching ‘Halving,’ Explained

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 Marches on $7K as Traditional Markets Cheer Fed’s QE ‘Bazooka’

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 and Gold: Evaluating Hard-Cap Currencies in Times of Financial Crisis
• Investors Look to Gold, Crypto After Fed Goes on QE Buying Spree

• 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 Marches on $7K as Traditional Markets Cheer Fed’s QE ‘Bazooka’

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 and Gold: Evaluating Hard-Cap Currencies in Times of Financial Crisis

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

• Investors Look to Gold, Crypto After Fed Goes on QE Buying Spree
• Bitcoin: A Global Port in a Market Storm?

• 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 and Gold: Evaluating Hard-Cap Currencies in Times of Financial Crisis

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: Investors Look to Gold, Crypto After Fed Goes on QE Buying Spree

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: A Global Port in a Market Storm?
• Into the Unknown: No Limit on Fed Money Injections

• 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: Investors Look to Gold, Crypto After Fed Goes on QE Buying Spree

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: A Global Port in a Market Storm?

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

• Into the Unknown: No Limit on Fed Money Injections
• Bitcoin, Gold Spike as Fed Unveils Unlimited Coronavirus 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: Bitcoin: A Global Port in a Market Storm?

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: Into the Unknown: No Limit on Fed Money Injections

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, Gold Spike as Fed Unveils Unlimited Coronavirus Stimulus Package
• Bearish ‘Death Cross’ Price Patterns Loom for Both Bitcoin and US Stocks

• 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: Into the Unknown: No Limit on Fed Money Injections

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, Gold Spike as Fed Unveils Unlimited Coronavirus 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

• Bearish ‘Death Cross’ Price Patterns Loom for Both Bitcoin and US Stocks
• Australian Share Market Reveals Potential Storm for US Equities While Bitcoin Falls

• 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, Gold Spike as Fed Unveils Unlimited Coronavirus 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: Bearish ‘Death Cross’ Price Patterns Loom for Both Bitcoin and US Stocks

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

• Australian Share Market Reveals Potential Storm for US Equities While Bitcoin Falls
• Bailouts, Bitcoin, Disruption, Failures and Hope

• 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, Gold Spike as Fed Reserve Unveils Unlimited Coronavirus 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: Bearish ‘Death Cross’ Price Patterns Loom for Both Bitcoin and US Stocks

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

• Australian Share Market Reveals Potential Storm for US Equities While Bitcoin Falls
• Bailouts, Bitcoin, Disruption, Failures and Hope

• 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: Australian Share Market Reveals Potential Storm for US Equities While Bitcoin Falls

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: Bailouts, Bitcoin, Disruption, Failures and Hope

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

• As This Crisis Worsens, Bitcoin Will Become a Safe Haven Again
• Bitcoin Bumps Up, but for How Long?

• 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: Bailouts, Bitcoin, Disruption, Failures and 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: As This Crisis Worsens, Bitcoin Will Become a Safe Haven Again

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 Bumps Up, but for How Long?
• The Puell Multiple Is Turning Bullish on Bitcoin

• 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: As This Crisis Worsens, Bitcoin Will Become a Safe Haven Again

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 Bumps Up, but for How Long?

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

• The Puell Multiple Is Turning Bullish on Bitcoin
• Bitcoin Claws Back Over 40% of Recent Price Sell-off With Surge Above $6.8K

• 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: As this Crisis Worsens, Bitcoin Will Become a Safe Haven Again

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 Bumps Up, but for How Long?

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

• The Puell Multiple Is Turning Bullish on Bitcoin
• Bitcoin Claws Back Over 40% of Recent Price Sell-off With Surge Above $6.8K

• 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 Bumps Up, but for How Long?

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: The Puell Multiple Is Turning Bullish on Bitcoin

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 Claws Back Over 40% of Recent Price Sell-off With Surge Above $6.8K
• What an Uptick in ‘Coinjoins’ Says About Bitcoin’s Value Proposition

• 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: The Puell Multiple Is Turning Bullish on Bitcoin

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 Claws Back Over 40% of Recent Price Sell-off With Surge Above $6.8K

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 an Uptick in ‘Coinjoins’ Says About Bitcoin’s Value Proposition
• Israeli Bitcoiners See Surveillance as Unavoidable During Coronavirus Crisis

• 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 Claws Back Over 40% of Recent Price Sell-off With Surge Above $6.8K

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 an Uptick in ‘Coinjoins’ Says About Bitcoin’s Value Proposition

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

• Israeli Bitcoiners See Surveillance as Unavoidable During Coronavirus Crisis
• Huobi Adds Crypto ‘Circuit Breaker’ After Last Week’s Mass Liquidations

• 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 Claws Back Over 40% of Recent Price Selloff With Surge Above $6.8K

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 an Uptick in ‘Coinjoins’ Says About Bitcoin’s Value Proposition

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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• 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 an Uptick in ‘Coinjoins’ Says About Bitcoin’s Value Proposition

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: Israeli Bitcoiners See Surveillance as Unavoidable During Coronavirus Crisis

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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• 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: Israeli Bitcoiners See Surveillance as Unavoidable During Coronavirus Crisis

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: Huobi Adds Crypto ‘Circuit Breaker’ After Last Week’s Mass Liquidations

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 Sees 9% Gain as Turmoil Hits the Forex Markets
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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: Huobi Adds Crypto ‘Circuit Breaker’ After Last Week’s Mass Liquidations

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 Sees 9% Gain as Turmoil Hits the Forex Markets

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

• CME Bitcoin Options Volume Hits Record Low, While Bakkt Goes Weeks With No Trades
• Controversial Group Behind Coronavirus Tracking App Has Crypto Ties

• 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 Sees 9% Gain as Turmoil Hits the Forex 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: CME Bitcoin Options Volume Hits Record Low, While Bakkt Goes Weeks With No Trades

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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