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  • Bitcoin has bounced on Friday from the lows seen after the crash on Thursday.
  • The price dipped to a low of 3,858 before recovering in a volatile session.

BTC/USD 15-minute chart

Below is the intraday chart for BTC/USD and the volatility has returned with a vengeance. The range of this consolidation period is now between 3,858 to 6,250.99, a whopping 2,392.99 range. This is really unlike another financial instrument as lots of money can be made and lost in short periods of time. 

Looking at the chart below now there are some key levels. The first in my mind is the green line, this is the level where the price fell and stopped on the major drop. Then after another small consolidation, the price hit the major low at 3,858.00. Above current levels 5,600 and 6,250.99 are the main resistance zones. 

The volume has really dropped off at the moment but this is no surprise. It does feel like the calm before the storm once again with the eerie quiet period lulling the market into a false sense of security. Remember keep your risk tight, it’s better to have a smaller position with a larger stop loss when the markets are this volatile.

Bitcoin volatility

Additional levels

 

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