continues to check buyers’ endurance because it stays in a good vary. Though the near-term is uninteresting, merchants have to be on their toes as volatility tends to spike after tight intervals. The one drawback is that it’s troublesome to precisely predict the course of the breakout.
Glassnode’s newest weekly publication highlights that Bitcoin (BTC) consolidation has lowered the Bollinger Bands which can be differ by solely 4.2 p.c.. Citing varied chain indicators, the authors concluded that buyers are reluctant to promote, which in some respects is much like “durations like 2016.” and 2019-2020, that are characterised by unstable market situations.”
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