{"id":537011,"date":"2023-06-08T16:05:37","date_gmt":"2023-06-08T16:05:37","guid":{"rendered":"https:\/\/wncen.com\/?p=537011"},"modified":"2024-06-11T08:05:22","modified_gmt":"2024-06-11T08:05:22","slug":"bitcoin-bollinger-bands-herald-higher-volatility","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-bollinger-bands-herald-higher-volatility\/","title":{"rendered":"Bitcoin Bollinger Bands Herald Higher Volatility, What’s Next For BTC?"},"content":{"rendered":"

The Bitcoin price has shown a strong reaction after the lawsuits filed by the US Securities and Exchange Commission (SEC) against Binance and Coinbase, which may have surprised many. Generally, rising prices on negative news are a strong indication that the sell side is losing steam and a bottom is near.<\/p>\n

In the case of the Bitcoin price, however, there are still some anxieties hovering over the market at the moment that could mean another, possibly final, drop to the downside. For example, it is still not clear whether the U.S. Department of Justice (DOJ) will also take legal action against Binance and what impact this will have on Binance’s international business.<\/p>\n

Bullish Arguments Are Growing For Bitcoin<\/h2>\n

Nevertheless, the bullish signals are mounting. As Glassnode co-founders Jan Happel and Yann Allemann write<\/a> in their latest analysis, Bitcoin’s Bollinger bands pretty much reflect the current state. On the 1-day chart, BTC price remains within the accumulation zone, between the lower band and the 20-day moving average.<\/p>\n

Related Reading: Bitcoin Is Reportedly Trading At a $2k Premium on Binance.US<\/a><\/div>\n

“Which suggests that this is still a good entry point,” the co-founders of the leading on-chain analysis service say. At the same time, with reference to the chart below, the analysts warn that traders should be aware of widening bands that could herald impending higher volatility that could lead to abrupt moves.<\/p>\n

\"Bitcoin
Bitcoin Bollinger Bands herald higher volatility | Source: Swissblock<\/a><\/figcaption><\/figure>\n

Looking at Bitcoin’s open interest, Allemann and Happel state that despite the strong reaction to the bad news, there is no clear direction for now:<\/p>\n

We believe that the price will continue to consolidate alongside open interest until we approach the FOMC and the market begins to position for the expected output.<\/strong><\/p><\/blockquote>\n

Remarkably, next week’s Fed meeting – on June 13-14 – will be the first in years without a clear consensus on the rate decision. Since the Fed started raising rates, there has been a clear consensus at every meeting.<\/p>\n

According to the CME FedWatch tool, futures show a 30% chance that rates will be raised and a 70% chance that they will not. The lack of clarity is also likely to lead to more volatility in the BTC price ahead of the decision.<\/p>\n

Related Reading: Bitcoin Retests Moving Average That Marked All Major Market Bottoms<\/a><\/div>\n

BTC recently retested the 200-week moving average (MA) at $25,306, but supply liquidity was somewhat thin here. In addition, if price goes down again, a retest of the 50-month MA at $25,898 would be very interesting, where liquidity and sentiment seem to be stronger.<\/p>\n

It is worth noting that BTC has already formed a double bottom at the 50-month MA. A triple bottom would be bullish. On the other hand, a loss of the 200-month MA would open the way to bearadise.<\/p>\n

\"Bitcoin
Bitcoin price at crucial moment, 1-week chart | Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n

In this respect, a few very important days await BTC in the coming week(s). A defense of the aforementioned price levels is of utmost importance. If defended, a journey to bull paradise could be next, but bulls need to turn the tables on the lower time frames.<\/p>\n

Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price has shown a strong reaction after the lawsuits filed by the US Securities and Exchange Commission (SEC) against Binance and Coinbase, which may have surprised many. Generally, rising prices on negative news are a strong indication that the sell side is losing steam and a bottom is near. In the case of the Bitcoin price, however, there are still some anxieties hovering over the market at the moment that could mean another, possibly final, drop to the downside. For example, it is still not clear whether the U.S. Department of Justice (DOJ) will also take legal action against Binance and what impact this will have on Binance’s international business. Bullish Arguments Are Growing For Bitcoin Nevertheless, the bullish signals are mounting. As Glassnode co-founders Jan Happel and Yann Allemann write in their latest analysis, Bitcoin’s Bollinger bands pretty much reflect the current state. On the 1-day chart, BTC price remains within the accumulation zone, between the lower band and the 20-day moving average. Related Reading: Bitcoin Is Reportedly Trading At a $2k Premium on Binance.US “Which suggests that this is still a good entry point,” the co-founders of the leading on-chain analysis service say. At the same time, with reference to the chart below, the analysts warn that traders should be aware of widening bands that could herald impending higher volatility that could lead to abrupt moves. Looking at Bitcoin’s open interest, Allemann and Happel state that despite the strong reaction to the bad news, there is no clear direction for now: We believe that the price will continue to consolidate alongside open interest until we approach the FOMC and the market begins to position for the expected output. Remarkably, next week’s Fed meeting – on June 13-14 – will be the first in years without a clear consensus on the rate decision. Since the Fed started raising rates, there has been a clear consensus at every meeting. According to the CME FedWatch tool, futures show a 30% chance that rates will be raised and a 70% chance that they will not. The lack of clarity is also likely to lead to more volatility in the BTC price ahead of the decision. Related Reading: Bitcoin Retests Moving Average That Marked All Major Market Bottoms BTC recently retested the 200-week moving average (MA) at $25,306, but supply liquidity was somewhat thin here. In addition, if price goes down again, a retest of the 50-month MA at $25,898 would be very interesting, where liquidity and sentiment seem to be stronger. It is worth noting that BTC has already formed a double bottom at the 50-month MA. A triple bottom would be bullish. On the other hand, a loss of the 200-month MA would open the way to bearadise. In this respect, a few very important days await BTC in the coming week(s). A defense of the aforementioned price levels is of utmost importance. If defended, a journey to bull paradise could be next, but bulls need to turn the tables on the lower time frames. Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":537019,"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":[428,1057,1119],"class_list":["post-537011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bollinger-bands","tag-btc"],"acf":[],"yoast_head":"\nBitcoin Bollinger Bands Herald Higher Volatility, What's Next?<\/title>\n<meta name=\"description\" content=\"Bitcoin's Bollinger bands pretty much reflect the current state. 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Bollinger Bands Herald Higher Volatility, What’s Next For BTC?","url":"http:\/\/wncen.com\/news\/bitcoin-bollinger-bands-herald-higher-volatility\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-bollinger-bands-herald-higher-volatility\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/iStock-186295282.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/iStock-186295282.jpg?fit=2304%2C1301"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bollinger bands","btc"],"dateCreated":"2023-06-08T16:05:37Z","datePublished":"2023-06-08T16:05:37Z","dateModified":"2024-06-11T08:05:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Bollinger Bands Herald Higher Volatility, What’s Next For BTC?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-bollinger-bands-herald-higher-volatility\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-bollinger-bands-herald-higher-volatility\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-186295282.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-186295282.jpg?fit=2304%2C1301\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bollinger bands\",\"btc\"],\"dateCreated\":\"2023-06-08T16:05:37Z\",\"datePublished\":\"2023-06-08T16:05:37Z\",\"dateModified\":\"2024-06-11T08:05:22Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/iStock-186295282.jpg?fit=2304%2C1301","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/537011"}],"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\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=537011"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/537011\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/537019"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=537011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=537011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=537011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}