- Lack of volatility reaches record lows since July 2017.
- The BTC/USD has little margin to avoid a new visit to relative lows.
The Crypto Market invites to close folders and look at it again when the first eye-catching headline indicates that the market has come back to life.
That would be a big mistake. Markets take it all to the extreme, including volatility, so when there is no longer any range even for an aggressive scalping strategy, it is probably when we are closest to seeing a move of some magnitude again.
Do you want to know more about my technical setup?
BTC/USD 1D
Weekly volatility levels are already in the same range as the BTC/USD in July 2017, with the Bitcoin then trading slightly below $2,000.
Moving averages are compressing and fighting for a tighter and tighter space. The way out of this situation will probably be very volatile and with a clear direction.
The MACD in the weekly range crosses slightly higher, so the background direction of the market for the BTC/USD will tend to be higher. In that process, the BTC/USD should turn the DMI also in the weekly range, put in this indicator the bears continue, albeit by a very little margin, having an advantage over the bulls.
From this background perspective, the information provided by the 240-Min chart proposes a scenario of outstanding movements in the price of the BTC/USD in the following days. The MACD at 240-Min moves through the positive zone of the indicator but crosses slightly lower.
If the $6,359 level is lost, it would open a scenario of falls in the BTC/USD price that would most likely bring it to the minimum levels seen last June. The signal level is $6,529 for the BTC/USD price in Binance and $6,366 for the Coinbase price.
On the bulls side, if the BTC/USD achieves a close above $6,463 it would be possible to see again maximum levels of the medium term range at the price level of $7,400. For this bullish option, the signal level is at $6,762 in Binance and $6,765 for the quoted price of the BTC/USD in Coinbase.
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