{"id":5982,"date":"2020-12-12T20:00:24","date_gmt":"2020-12-12T20:00:24","guid":{"rendered":"https:\/\/www.newsbtc.com\/?p=452093"},"modified":"2020-12-12T20:00:24","modified_gmt":"2020-12-12T20:00:24","slug":"this-technical-indicator-suggests-bitcoin-is-about-to-see-massive-volatility","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/this-technical-indicator-suggests-bitcoin-is-about-to-see-massive-volatility\/","title":{"rendered":"This Technical Indicator Suggests Bitcoin is About to See Massive Volatility"},"content":{"rendered":"

Bitcoin is so far seeing a quiet weekend, with bulls taking control of its price action as they hold it above $18,000. This level was broken below earlier this week, but buyers were able to find enough support to thwart any intense selloff from here.<\/p>\n

Although the crypto is holding strong above this level, it is important to note that the entire market is still on shaky ground and may remain in a precarious position until BTC can break firmly above $19,000.<\/p>\n

This has long been a pivotal level for the cryptocurrency<\/a>, with breaks below it typically opening the gates for serious selloffs.<\/p>\n

If bulls can reclaim this level anytime soon, it could mean that another explosive rally to the crypto’s all-time highs is imminent.<\/p>\n

There is one technical indicator that seems to suggest some explosive volatility is imminent in the near-term.<\/p>\n

Whether or not this volatility favors bulls or bears should depend largely on the cryptocurrency’s reaction to $19,000, as a test of this level should provide some serious insights into where BTC and the rest of the crypto market will trend next.<\/p>\n

Any rejection at, or just below, this level could lead the entire market to see some serious downside.<\/p>\n

Bitcoin Struggles to Gain Momentum But Reclaims $18,000<\/strong> <\/strong><\/h2>\n

At the time of writing, Bitcoin<\/a> is trading up just under 3% at its current price of $18,500. This marks a notable climb from its recent lows of $17,600 set just a couple of days ago.<\/p>\n

The selling pressure in the upper-$18,000 region has been significant, and whether or not it can break above $19,000 should have some serious implications for the cryptocurrency’s outlook in the weeks ahead.<\/p>\n

Indicator Shows BTC is Gearing Up to See Some Massive Volatility<\/strong><\/h2>\n

Bitcoin may be gearing up to see some massive volatility in the near-term, with one indicator showing that the crypto is poised to make a big movement in the days ahead.<\/p>\n

One analyst spoke about this in a recent tweet<\/a>, explaining that BTC’s cloud formation suggests that a macro trend-defining movement is fast approaching.<\/p>\n

\n

“The cloud doing its thing. Currently squeezing and thus tightening the range, whatever direction it will take – it will be big,” he said while pointing to the below chart.<\/p>\n<\/blockquote>\n

\"Bitcoin\"<\/p>\n

Image Courtesy of Teddy. Source: BTCUSD on TradingView<\/a>.<\/pre>\n
The coming week should shine a light on the cryptocurrency’s<\/a> outlook, and its reaction to any test of $19,000 might be the event that sparks the next round of immense Bitcoin volatility.<\/p>\n
Featured image from Unsplash.\nCharts from TradingView<\/a>.<\/pre>\n","protected":false},"excerpt":{"rendered":"
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