Over the past several days Bitcoin (BTC) has seen an extended period of sideways trading within an extremely tight trading range between approximately $3,550 and $3,650.<\/p>\n
Although this lack of volatility may be welcomed by investors who are tired of the cryptocurrency\u2019s frequent price movements, historically involatile price action leads to a massive price movement in one direction or another.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading up nominally at its current price of $3,600. Last Sunday, BTC<\/a> dropped from $3,750 to lows of approximately $3,550. BTC further solidified the latter price as a strong level of support, as it quickly bounced to over $3,600 after touching this price level.<\/p>\n Earlier today, Bitcoin climbed to highs of $3,650, but was swiftly pushed back down towards its current price levels, which confirms that it is currently caught in a trading range between $3,550 and $3,650.<\/p>\n TayTrox Trading, a cryptocurrency analyst on Twitter, recently pointed out that after long bouts of involatile trading action, BTC typically makes a large price move.<\/p>\n \u201c$BTC Last time we traded in a tight range for this long we all know what happened. What will happen this time?\u201d<\/p><\/blockquote>\n $BTC<\/a> Last time we traded in a tight range for this long we all know what happened. <\/p>\n What will happen this time? pic.twitter.com\/927XFwnF3C<\/a><\/p>\n — Junior Floyd (@Jr_Floyd11) January 24, 2019<\/a><\/p><\/blockquote>\n\n