{"id":541787,"date":"2023-07-09T17:05:40","date_gmt":"2023-07-09T17:05:40","guid":{"rendered":"https:\/\/wncen.com\/?p=541787"},"modified":"2024-06-11T08:13:57","modified_gmt":"2024-06-11T08:13:57","slug":"narrow-bitcoin-price-range-suggests-explosive-move-ahead","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/narrow-bitcoin-price-range-suggests-explosive-move-ahead\/","title":{"rendered":"Narrow Bitcoin Price Range Suggests Explosive Move Ahead"},"content":{"rendered":"
The recent deluge of spot Bitcoin ETF applications sparked a major mid-June rally for Bitcoin. While the number one crypto asset managed to conquer the 30,000 level as a result, Bitcoin’s price has otherwise fallen into a tight range in recent days and only managed a single close above 31,000. Let’s examine whether this narrow Bitcoin price range suggests a big move ahead or more sideways movement for the foreseeable future.<\/p>\n
Another Narrow Base For Bitcoin<\/strong><\/h2>\n
Following June’s large advance, Bitcoin’s price has continued to trade sideways, falling into a tight range of less than five percent from its highest close to its lowest close over a recent fifteen day period. While not an every day occurrence, there have been thirty-six such bases in Bitcoin’s modern history (2011 – present) if using a relatively short-term holding time of seven days. In short, it’s just another narrow base for Bitcoin.<\/p>\n
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Bitcoin Daily Chart\u00a0 | BTCUSD on TradingView.com<\/p>\n