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 Keeps Recovery Hopes Alive With Defense of Major Average Support

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 Markets Were Already Vulnerable, Then Came Coronavirus

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Bitcoin image via CoinDesk archives; charts by Trading View

• Bitcoin Price Falls After One-Hour Volume Spike
• Bitcoin Drops 2% Following Fed’s First Emergency Rate Cut Since 2008

• 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 Markets Were Already Vulnerable, Then Came Coronavirus

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 Falls After One-Hour Volume Spike

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 Drops 2% Following Fed’s First Emergency Rate Cut Since 2008
• Why Aren’t the Candidates Talking About Digital Currency?

• 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 Falls After One-Hour Volume Spike

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 Drops 2% Following Fed’s First Emergency Rate Cut Since 2008

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

• Why Aren’t the Candidates Talking About Digital Currency?
• Bottom In? Bitcoin Makes 4.5% Gain as Sellers Lose Steam

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

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

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

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

Related: Bitcoin Drops 2% Following Fed’s First Emergency Rate Cut Since 2008

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: Why Aren’t the Candidates Talking About Digital Currency?

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

• Bottom In? Bitcoin Makes 4.5% Gain as Sellers Lose Steam
• Bitcoin Rebounds as Coronavirus-Infected Stocks Get Jolt From Fed, BOJ

• 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: Why Aren’t the Candidates Talking About Digital Currency?

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: Bottom In? Bitcoin Makes 4.5% Gain as Sellers Lose Steam

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 Rebounds as Coronavirus-Infected Stocks Get Jolt From Fed, BOJ
• Bitcoin, Uncertainty and the Ultimate Narrative

• 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: Bottom In? Bitcoin Makes 4.5% Gain as Sellers Lose Steam

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 Rebounds as Coronavirus-Infected Stocks Get Jolt From Fed, BOJ

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, Uncertainty and the Ultimate Narrative
• Bitcoin’s Option Market Sees Low Chance of Post-Halving Rally

• 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 Rebounds as Coronavirus-Infected Stocks Get Jolt From Fed, BOJ

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, Uncertainty and the Ultimate Narrative

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Bitcoin image via CoinDesk archives; charts by Trading View

• Bitcoin’s Option Market Sees Low Chance of Post-Halving Rally
• Bitcoin Rallies After Biggest Weekly Drop Since November

• 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, Uncertainty and the Ultimate Narrative

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’s Option Market Sees Low Chance of Post-Halving Rally

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 Rallies After Biggest Weekly Drop Since November
• Coronavirus Impacts on Bitcoin (And the IRS’s Dumb Singularity)

• 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 Rallies After Biggest Weekly Drop Since November

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

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

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

Related: Coronavirus Impacts on Bitcoin (And the IRS’s Dumb Singularity)

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

• Yemen’s Civil War Shows the Dangers of Crypto
• As Fed Contemplates Coronavirus-Prompted Easing, Bitcoin Traders Bet on Halving

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

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

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

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

Related: Coronavirus Impacts on Bitcoin (And the IRS’s Dumb Singularity)

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: Yemen’s Civil War Shows the Dangers of Crypto

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 Fed Contemplates Coronavirus-Prompted Easing, Bitcoin Traders Bet on Halving
• Bitcoin News Roundup for Feb. 28, 2020

• 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: Yemen’s Civil War Shows the Dangers of Crypto

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 Fed Contemplates Coronavirus-Prompted Easing, Bitcoin Traders Bet on Halving

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 News Roundup for Feb. 28, 2020
• Bitcoin Closes on First February Price Loss Since 2014

• 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 Fed Contemplates Coronavirus-Prompted Easing, Bitcoin Traders Bet on Halving

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 News Roundup for Feb. 28, 2020

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Bitcoin image via CoinDesk archives; charts by Trading View

• Bitcoin Closes on First February Price Loss Since 2014
• Coronavirus Hits US Stocks, Bitcoin Climbs, Haven Status Unclear

• 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 News Roundup for Feb. 28, 2020

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

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

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

Related: Bitcoin Closes on First February Price Loss Since 2014

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

• Coronavirus Hits US Stocks, Bitcoin Climbs, Haven Status Unclear
• Ether Futures Volume on FTX Hit Record 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: Bitcoin Closes on First February Price Loss Since 2014

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

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

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

Related: Coronavirus Hits US Stocks, Bitcoin Climbs, Haven Status Unclear

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

• Ether Futures Volume on FTX Hit Record Highs
• Bitcoin Sees Corrective Price Bounce After Hitting One-Month 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: Coronavirus Hits US Stocks, Bitcoin Climbs, Haven Status Unclear

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

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

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

Related: Ether Futures Volume on FTX Hit Record 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

• Bitcoin Sees Corrective Price Bounce After Hitting One-Month Lows
• Over $190M in Bitcoin Liquidated on BitMEX Amid Crypto Market Sell-Off

• 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: Ether Futures Volume on FTX Hit Record 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: Bitcoin Sees Corrective Price Bounce After Hitting One-Month 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

• Over $190M in Bitcoin Liquidated on BitMEX Amid Crypto Market Sell-Off
• Bitcoin Drove Half of Square’s Cash App Revenue in the 4th Quarter

• 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 Corrective Price Bounce After Hitting One-Month Lows

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: Over $190M in Bitcoin Liquidated on BitMEX Amid Crypto Market Sell-Off

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 Drove Half of Square’s Cash App Revenue in the 4th Quarter
• February Gains Disappear as Bitcoin Drops Below $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: Over $190M in Bitcoin Liquidated on BitMEX Amid Crypto Market Sell-Off

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 Drove Half of Square’s Cash App Revenue in the 4th Quarter

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

• February Gains Disappear as Bitcoin Drops Below $9k
• Bitcoin Erases 38% of 2020 Price Rally as Bears Gain Strength

• 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: Over $190 Million Bitcoin Liquidated on BitMEX Amid Crypto Market Sell-Off

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 Drove Half of Square’s Cash App Revenue in the 4th Quarter

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

• February Gains Disappear as Bitcoin Drops Below $9k
• Bitcoin Erases 38% of 2020 Price Rally as Bears Gain Strength

• 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 Drove Half of Square’s Cash App Revenue in the 4th Quarter

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: February Gains Disappear as Bitcoin Drops Below $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

• Bitcoin Erases 38% of 2020 Price Rally as Bears Gain Strength
• ‘Short Bitcoin’ ETP Available to Investors on Germany’s Second-Largest Exchange