Bitcoin Technical Analysis: BTC/USD low volatility indicates a significant move to $8,000 or $10,000 is nearby

BTC/USD continues trading sideways after establishing a daily uptrend.
The range where Bitcoin is trading is getting tighter each week.

Lorenzo Stroe Independent Analyst

Bitcoin price is currently at $9,229 after a brief dip to $9,104. It is currently below the daily 12-EMA and the 26-EMA which have been unable to cross positively due to the lack of bullish continuation.

BTC/USD daily chart

The daily uptrend is really weak and on the verge of a reversal. Bulls are not holding the daily EMAs and are at risk of losing $9,000. They have managed to create a few lower long-wick candlesticks but they got no continuation. The current candlestick is again, a bullish candlestick but needs to see some follow-through.

BTC/USD 4-hour chart

Bitcoin was in an uptrend here but lost it after the crash to $9,100. It is now trading below both EMAs. Overall, BTC has remained quite flat here as well between $9,100 and $9,350.

Author

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Stellar Price Forecast: XLM slips below $0.22 as bearish momentum builds

Stellar (XLM) price is trading below $0.22 at the time of writing on Wednesday after failing to close above the key resistance earlier this week. Bearish momentum continues to strengthen, with open interest falling and short bets rising.

Pi Network Price Forecast: PI struggles to rebound amid muted demand

Pi Network (PI) edges higher by almost 1% at press time on Wednesday, bouncing off the $0.2000 level after a four-day decline. The recovery lacks momentum as the social interest surrounding Pi Network declines. Technically, PI is at a crossroads, struggling for a rebound as momentum is lacking.