Cathie Wood is separating from her Coinbase shares. While the CEO of Ark Invest had already parted with 135,000 Coinbase shares, she decides to continue to distribute. A considered decision, because the price of Coinbase continues to explode on the rise. For his part, the bitcoin price got a scare below $30,000. The price is currently moving around $30,000but a violent move may soon be coming.
Bitcoin price stagnates in 24 hours
Despite the slight dip below the psychological round number at $30,000, my buyers showed up. In fact, the bitcoin price stagnates in 24 hours and drop slightly in a week.
In a monththe BTC displays a 13% increase. On the other hand, the course makes there for three months now. The BTC/ETH pair stagnates in 24 hours And fall from close 3% in one week. I’Ether (ETH) can he regain strength and break the resistance at $2,000 ?
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A very low volatility Bitcoin: is a violent movement brewing?
The Bitcoin price is experiencing a volatility very weak since several weeks. We can very well see it visually, but the Bollinger bands (BB) also make it possible to realize the volatility of an asset. The tighter they are, the more volatility falls. In such conditions, the price tends to Contract and to know a violent movement upwards or downwards.
As we can see, BBs are very tight Currently. This was already the case at the end of October 2022, and this year in January, February and June. What all four moments have in common is that the price has moved violently up or down following very tight BBs. Currently the course is in tidyand only 4.2% separates the high band and the low band of the BBs. It’s about most significant tightening BBs since January 2023. Nothing indicates that the price will necessarily explode upwards. However, it’s a safe bet that the next weeks be well more volatile than the previous ones. If the price manages to break the zone at 31,500 dollars, the buyers could then prevail.
Bitcoin price rebounded from support at $29,800
BTC continues to evolve within a tidy Understood between $31,500 and $29,800. Buyers and sellers neutralize each other, but sellers put pressure currently below $30,500.
The price rebounded from the support level at $29,800. If it were to give way, the price could reach the next support at $28,500. On the other hand, if the buyers show up, the price could then return to the resistance level at $30,500 and then to the level of the top of the range around $31,500. The RSI continues to move around the bearish trendline. A rebound must occur here to avoid returning below this trendline. Buyers need to keep the momentum short term.
The course of Bitcoin East very low volatility since several weeks. The course has already been in these conditions several times this year and, each time, it has experienced a violent movement. Could the price of Bitcoin finally break the resistance at $31,500 ? Or will the sellers succeed in driving the price below $30,000?
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