{"id":431414,"date":"2020-07-19T19:00:21","date_gmt":"2020-07-19T19:00:21","guid":{"rendered":"https:\/\/wncen.com\/?p=431414"},"modified":"2024-06-11T14:05:23","modified_gmt":"2024-06-11T14:05:23","slug":"bitcoin-range-true-range-btcusd","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-range-true-range-btcusd\/","title":{"rendered":"What Happens Next? Bitcoin Range Falls To Tightest Point In History"},"content":{"rendered":"<p class=\"p3\">2020 has been a brutal year on all accounts, topped off by the most boring sideways action in Bitcoin yet.<\/p>\n<p class=\"p3\">In fact, this truly is the most stagnant range in the history of the first-ever cryptocurrency, according to a range-measuring technical indicator.<\/p>\n<h2 class=\"p3\">Bitcoin True Range Reaches Record-Setting Low<\/h2>\n<p class=\"p3\">Bitcoin price is trading at roughly $9,200. It\u2019s been trading within just a few percent from that price for the last few months.<\/p>\n<p class=\"p3\">Any attempts to push prices lower results in dip buyers stepping in and wicks left to the downside. All rallies to above $10,000 however are swatted down by bears back into the range.<\/p>\n<p class=\"p3\" style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2020\/07\/17\/bitcoin-historical-volatility-bull-btc\/\">Bitcoin Historical Volatility Approaching Zero Could Signal Blossoming Bull Trend<\/a><\/strong><\/em><\/p>\n<p class=\"p3\">Nothing thus far has been able to break it, yet nearly every crypto analyst and trader is expecting an enormous move when the range does finally give.<\/p>\n<p class=\"p3\">An indicator measuring the True Range percentage of BTCUSD price action has now fallen to the lowest point in the asset\u2019s just over decade long history.<\/p>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"aligncenter size-large wp-image-431421\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/07\/EdQ-i1yUwAARzwv.png?fit=860%2C860\" alt=\"bitcoin btcusd true range\" loading=\"lazy\"><\/p>\n<pre>\u00a0Brave New Coin Bitcoin Liquid Index True Range % | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BLX\/?exchange=BNC\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<p class=\"p3\">Bitazu Capital founding partner Mohit Sorout <a href=\"https:\/\/twitter.com\/singhsoro\" target=\"_blank\" rel=\"noopener nofollow\">shared the chart via Twitter<\/a> highlighting the extreme reading on the indicator. Nearly every fall to this low of a measurement has resulted in a powerful movement afterward. And if Bitcoin price is at the lowest True Range in history, could we soon see the largest price movement ever?<\/p>\n<h2 class=\"p3\">Bollinger Bands Point To Sizable Move When Tight Range Finally Breaks<\/h2>\n<p class=\"p3\">Another tool underscoring that the sideways price action has reached record lows in volatility is the Bollinger Bands technical analysis indicator.<\/p>\n<p class=\"p3\">The indicator consists of a simple moving average and two standard deviations that act as the upper and lower \u201cbands.\u201d<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2020\/07\/18\/lengthening-bitcoin-cycles-halving\/\">How Lengthening Bitcoin Cycles Conflict With Halving Driven Supply Theories<\/a><\/strong><\/em><\/p>\n<p class=\"p3\">These bands widen and contract depending on volatility and corresponding price action. When the Bollinger Bands \u201csqueeze\u201d and tighten, an explosive move always follows.<\/p>\n<p class=\"p3\">The Bollinger Bands have now reached their tightest point since the November 2018 drop taking Bitcoin to its bear market bottom at $3200.<\/p>\n<p class=\"p3\" style=\"text-align: center\"><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"aligncenter size-large wp-image-431424\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/07\/bitcoin-btcusd-bollinger-bands-3.png?fit=860%2C860\" alt=\" bitcoin btcusd bollinger bands\" loading=\"lazy\"><\/p>\n<pre>Bitcoin BTCUSD Bitstamp Bollinger Bands Daily | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<p class=\"p3\">Ahead of the over 50% drop, a similar length sideways trading range took place, but the asset ultimately couldn\u2019t hold repeatedly tested support. The support level at $6,000 held several times prior to the breakdown, but pent up momentum during sideways action once released provided enough strength for the collapse.<\/p>\n<p class=\"p3\">This time around, however, it\u2019s resistance at $10,000 that has repeatedly been tested. Could this time send BTCUSD flying high, perhaps retesting $14,000 where the last major rejection took place?<\/p>\n<p class=\"p3\">If Bitcoin can break above that level, a retest of the cryptocurrency\u2019s all-time high is very likely. However, if Bitcoin breaks down from here, a lower low may be possible.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>2020 has been a brutal year on all accounts, topped off by the most boring sideways action in Bitcoin yet. In fact, this truly is the most stagnant range in the history of the first-ever cryptocurrency, according to a range-measuring technical indicator. Bitcoin True Range Reaches Record-Setting Low Bitcoin price is trading at roughly $9,200. It\u2019s been trading within just a few percent from that price for the last few months. Any attempts to push prices lower results in dip buyers stepping in and wicks left to the downside. All rallies to above $10,000 however are swatted down by bears back into the range. Related Reading | Bitcoin Historical Volatility Approaching Zero Could Signal Blossoming Bull Trend Nothing thus far has been able to break it, yet nearly every crypto analyst and trader is expecting an enormous move when the range does finally give. An indicator measuring the True Range percentage of BTCUSD price action has now fallen to the lowest point in the asset\u2019s just over decade long history. \u00a0Brave New Coin Bitcoin Liquid Index True Range % | Source: TradingView Bitazu Capital founding partner Mohit Sorout shared the chart via Twitter highlighting the extreme reading on the indicator. Nearly every fall to this low of a measurement has resulted in a powerful movement afterward. And if Bitcoin price is at the lowest True Range in history, could we soon see the largest price movement ever? Bollinger Bands Point To Sizable Move When Tight Range Finally Breaks Another tool underscoring that the sideways price action has reached record lows in volatility is the Bollinger Bands technical analysis indicator. The indicator consists of a simple moving average and two standard deviations that act as the upper and lower \u201cbands.\u201d Related Reading | How Lengthening Bitcoin Cycles Conflict With Halving Driven Supply Theories These bands widen and contract depending on volatility and corresponding price action. When the Bollinger Bands \u201csqueeze\u201d and tighten, an explosive move always follows. The Bollinger Bands have now reached their tightest point since the November 2018 drop taking Bitcoin to its bear market bottom at $3200. Bitcoin BTCUSD Bitstamp Bollinger Bands Daily | Source: TradingView Ahead of the over 50% drop, a similar length sideways trading range took place, but the asset ultimately couldn\u2019t hold repeatedly tested support. The support level at $6,000 held several times prior to the breakdown, but pent up momentum during sideways action once released provided enough strength for the collapse. This time around, however, it\u2019s resistance at $10,000 that has repeatedly been tested. Could this time send BTCUSD flying high, perhaps retesting $14,000 where the last major rejection took place? If Bitcoin can break above that level, a retest of the cryptocurrency\u2019s all-time high is very likely. However, if Bitcoin breaks down from here, a lower low may be possible.<\/p>\n","protected":false},"author":517,"featured_media":431425,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[79637,428,79639,79638,1057,1119,1144,78790,6664,79636,4524,76835],"class_list":["post-431414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-average-true-range","tag-bitcoin","tag-blc","tag-blx","tag-bollinger-bands","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-true-range","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>What Happens Next? 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.\",\"sameAs\":[\"https:\/\/coinchartist.io\/\",\"https:\/\/www.instagram.com\/coinchartist_io\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC\",\"https:\/\/www.youtube.com\/@coinchartist_io\"],\"url\":\"https:\/\/wncen.com\/author\/tonymspilotro\/\"}]}<\/script>\n","yoast_head_json":{"title":"What Happens Next? 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. 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