Cathie Wood sells her Coinbase shares. While the CEO of Ark Invest had already divested herself of 135,000 Coinbase shares. decided to continue distributing. A well-considered decision, as Coinbase’s share price continues to soar. For its part, the Bitcoin price had a scare below $30,000. The price is currently hovering around 30,000 dollarsbut a violent move could be on the way.
Bitcoin price stagnates in 24 hours
Despite falling slightly below the psychological round figure at $30,000, my buyers showed up. In fact, the Bitcoin price stagnates in 24 h and falls slightly within a week.
At one monthBTC shows a 13% rise. On the other hand, the for three months now. The BTC/ETH pair stagnates in 24 h and fall by almost by 3% in one week. L’Ether (ETH) can it regain strength and break the $2,000 resistance ?
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Bitcoin’s low volatility: is a violent move afoot?
The Bitcoin price is experiencing volatility very low for several weeks now. This is easy to see visually, but Bollinger Bands (BB) are also a good indicator of an asset’s volatility. The tighter they are, the lower the volatility. In such conditions, the share price tends to contract and to experience a violent movement upwards or downwards.
As you can see, the BBs are very tight at the moment. This has already been the case at the end of October 2022, and this year in January, February and June. What these four moments have in common is that the price has experienced a violent upward or downward movement following very tight BBs. Currently, the share price is in rangeand only 4,2 % separates the high and low BB bands. This is the most important narrowing of BB since january 2023. There’s nothing to suggest that the price will necessarily explode upwards. However, it’s a safe bet that next few weeks are well more volatile than previous ones. If the price manages to break through the $31,500 zone, buyers could win the day.
Bitcoin bounces off support at $29,800
BTC continues to evolve within a range included between $31,500 and $29,800. Buyers and sellers neutralize each other, but sellers apply pressure currently below $30,500.
The price has bounced off support at $29,800. If it were to give way, the price could reach the next support level at $28,500. On the other hand, if buyers were to show up, the price could return to resistance at $30,500, then to the top of the range around $31,500. The RSI continues to evolve around the bearish trendline. A rebound is needed here to avoid falling back below this trendline. Buyers must maintain momentum in the short term.
The price of Bitcoin is very low volatility for several weeks now. The price has already been in these conditions several times this year and, each time, it has experienced a very high level of volatility. violent movement. Could the Bitcoin price finally break the resistance at $31,500 ? Or will the sellers succeed in pushing the price below $30,000?
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