{"id":440521,"date":"2020-10-05T17:00:57","date_gmt":"2020-10-05T17:00:57","guid":{"rendered":"https:\/\/wncen.com\/?p=440521"},"modified":"2024-06-11T14:17:30","modified_gmt":"2024-06-11T14:17:30","slug":"dwindling-bitcoin-volatility-could-lead-to-decisive-move","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dwindling-bitcoin-volatility-could-lead-to-decisive-move\/","title":{"rendered":"Dwindling Bitcoin Volatility Could Lead To Decisive Move"},"content":{"rendered":"

Bitcoin price exploded through resistance at $10,000 and has flipped it into support that’s thus far held strong<\/a>. The support level has proven just as unbreakable as it was on the way up, fending off three major negative news events<\/a> in one week.<\/p>\n

But despite the lack of downside, there’s also been limited upside, taking historical volatility down to lows. When volatility dips this much in Bitcoin, a decisive move tends to follow. The remaining question is: which way?<\/p>\n

Bollinger Bands, Historical Volatility Point To Massive Decisive Move In Bitcoin, But Which Way?<\/h2>\n

The cryptocurrency asset class has earned a notorious reputation for its explosive volatility that can send prices soaring or crashing to extremes.<\/p>\n

Bitcoin is a prime example of this, rocketing from under $1,000 to over $20,000 in just a year. Hardcore crypto believers expect the asset to repeat this performance with each halving<\/a>, which some discrepancy of course.<\/p>\n

The first step in that journey was taking out $10,000 \u2013 something that took more than a year to do again after losing the level in 2019. Bitcoin spent weeks gearing up for the move, taking volatility to historic lows before an over $1,000 move in 24 hours brought the cryptocurrency to $12,000.<\/p>\n

\"bitcoin<\/p>\n

BTCUSD Daily Bollinger Bands & Historical Volatility | Source: TradingView<\/a><\/pre>\n
That same sort of tranquility and dwindling volatility is back<\/a> \u2013 but is this time to send Bitcoin crashing down back through the key level, or is the cryptocurrency about to depart from that support level for the last time?<\/p>\n
Related Reading | Bitcoin Price Has \u201c12 Weeks\u201d Left To Validate Four-Year-Cycle Theory<\/a><\/strong><\/em><\/p>\n
It is impossible to say, and the results are mixed each time volatility has fallen this low in the past. The direction of the breakout typically heads toward whichever side the price action is on compared to the mid-BB.<\/p>\n
Bitcoin price is currently trading exactly at this mid-point, suggesting today’s close could decide which way the major move heads.<\/p>\n
Indecision Even Comes Down To The Candle, Renko Shows<\/h2>\n
\"<\/p>\n
BTCUSD Weekly Renko Indecision Examples | Source: TradingView<\/a><\/pre>\n
Further demonstrating this indecision, is Bitcoin price weekly charts, when switching traditional Japanese candlesticks to Renko<\/a>.<\/p>\n
Renko cuts out noise and more clearly shows the trend at hand – or in this case that there isn’t one with a handful of red doji. When the series of doji candles finally breaks up or down, some of the crypto asset’s largest moves result, and the trend is set for weeks to come.<\/p>\n
Related Reading | How Bitcoin\u2019s 2020 High Compares To Past Bull Market \u201cTops\u201d<\/a><\/strong><\/em><\/p>\n
Bitcoin just opened a fourth doji candle within less than a 1% range in the candle body of the rest of the cluster. As soon as this range breaks, there could be a decisive move. But again, in which direction? It’s not clear, but one analyst says<\/a> that the move will be at least “$1K” in whatever direction it is.<\/p>\n
Featured image from DepositPhotos, Charts from TradingView<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price exploded through resistance at $10,000 and has flipped it into support that’s thus far held strong. The support level has proven just as unbreakable as it was on the way up, fending off three major negative news events in one week. But despite the lack of downside, there’s also been limited upside, taking historical volatility down to lows. When volatility dips this much in Bitcoin, a decisive move tends to follow. The remaining question is: which way? Bollinger Bands, Historical Volatility Point To Massive Decisive Move In Bitcoin, But Which Way? The cryptocurrency asset class has earned a notorious reputation for its explosive volatility that can send prices soaring or crashing to extremes. Bitcoin is a prime example of this, rocketing from under $1,000 to over $20,000 in just a year. Hardcore crypto believers expect the asset to repeat this performance with each halving, which some discrepancy of course. The first step in that journey was taking out $10,000 \u2013 something that took more than a year to do again after losing the level in 2019. Bitcoin spent weeks gearing up for the move, taking volatility to historic lows before an over $1,000 move in 24 hours brought the cryptocurrency to $12,000. BTCUSD Daily Bollinger Bands & Historical Volatility | Source: TradingView That same sort of tranquility and dwindling volatility is back \u2013 but is this time to send Bitcoin crashing down back through the key level, or is the cryptocurrency about to depart from that support level for the last time? Related Reading | Bitcoin Price Has \u201c12 Weeks\u201d Left To Validate Four-Year-Cycle Theory It is impossible to say, and the results are mixed each time volatility has fallen this low in the past. The direction of the breakout typically heads toward whichever side the price action is on compared to the mid-BB. Bitcoin price is currently trading exactly at this mid-point, suggesting today’s close could decide which way the major move heads. Indecision Even Comes Down To The Candle, Renko Shows BTCUSD Weekly Renko Indecision Examples | Source: TradingView Further demonstrating this indecision, is Bitcoin price weekly charts, when switching traditional Japanese candlesticks to Renko. Renko cuts out noise and more clearly shows the trend at hand – or in this case that there isn’t one with a handful of red doji. When the series of doji candles finally breaks up or down, some of the crypto asset’s largest moves result, and the trend is set for weeks to come. Related Reading | How Bitcoin\u2019s 2020 High Compares To Past Bull Market \u201cTops\u201d Bitcoin just opened a fourth doji candle within less than a 1% range in the candle body of the rest of the cluster. As soon as this range breaks, there could be a decisive move. But again, in which direction? It’s not clear, but one analyst says that the move will be at least “$1K” in whatever direction it is. Featured image from DepositPhotos, Charts from TradingView<\/p>\n","protected":false},"author":517,"featured_media":440532,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,82859,78790,6664,4524,83256],"class_list":["post-440521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdc","tag-btcusdt","tag-crypto","tag-xbt","tag-xbusd"],"acf":[],"yoast_head":"\nDwindling Bitcoin Volatility Could Lead To Decisive Move<\/title>\n<meta name=\"description\" content=\"Bitcoin price exploded through resistance at $10,000 and has flipped it into support that's thus far held strong. 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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\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dwindling Bitcoin Volatility Could Lead To Decisive Move","url":"http:\/\/wncen.com\/news\/dwindling-bitcoin-volatility-could-lead-to-decisive-move\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/dwindling-bitcoin-volatility-could-lead-to-decisive-move\/"},"thumbnailUrl":"","image":{"@type":"ImageObject","url":""},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdc","btcusdt","crypto","xbt","xbusd"],"dateCreated":"2020-10-05T17:00:57Z","datePublished":"2020-10-05T17:00:57Z","dateModified":"2024-06-11T14:17:30Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dwindling Bitcoin Volatility Could Lead To Decisive Move\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/dwindling-bitcoin-volatility-could-lead-to-decisive-move\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/dwindling-bitcoin-volatility-could-lead-to-decisive-move\\\/\"},\"thumbnailUrl\":\"\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdc\",\"btcusdt\",\"crypto\",\"xbt\",\"xbusd\"],\"dateCreated\":\"2020-10-05T17:00:57Z\",\"datePublished\":\"2020-10-05T17:00:57Z\",\"dateModified\":\"2024-06-11T14:17:30Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/440521"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=440521"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/440521\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=440521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=440521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=440521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}