• Bitcoin has fallen into a tight range over the past few sessions.
  • The Bollinger Bands have contracted to tight levels.

BTC/USD 30-Minute Chart

Over the last two days, the price of BTC/USD has consolidated into a very tight range between 7,161.94 and 7,469.60

The Bollinger Band overlay is showing that there is a serious contraction by the good news is that normally means there is a breakout on the way.

I have marked the last times that the market contracted in such a manner and there normally is some kind of reaction.

It must be said we do not have crystal balls and cannot predict the future but statistically, there is a case to be made.

Away from the Bollinger Band indicator, the break direction of the consolidation pattern will be important.

Bitcoin Analysis

Additional Levels

BTC/USD

Overview
Today last price 7296.17
Today Daily Change -9.94
Today Daily Change % -0.14
Today daily open 7306.11
 
Trends
Daily SMA20 7798.19
Daily SMA50 8298.91
Daily SMA100 8910.37
Daily SMA200 9391.47
 
Levels
Previous Daily High 7427.74
Previous Daily Low 7161.94
Previous Weekly High 7868.08
Previous Weekly Low 6526.82
Previous Monthly High 9580.19
Previous Monthly Low 6526.82
Daily Fibonacci 38.2% 7263.48
Daily Fibonacci 61.8% 7326.21
Daily Pivot Point S1 7169.45
Daily Pivot Point S2 7032.8
Daily Pivot Point S3 6903.66
Daily Pivot Point R1 7435.25
Daily Pivot Point R2 7564.4
Daily Pivot Point R3 7701.05

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Looking for the best path to the Moon

The fight for dominance in the crypto market is at a new turning point. Yesterday at mid-morning, Ethereum showed intentions to move higher. A significant breakout of the long-term downtrend in the ETH/BTC pair can confirm the plans of Ethereum.

More Bitcoin News

XRP/USD trapped in a range, the range narrows

XRP/USD has stalled in a tight range limited by $0.1700 on the downside and $0.1800 on the upside. The coin  has stayed mostly unchanged both on a day-to-day basis and since the beginning of Thursday.

More Ripple News

ETH/USD retreats below 1-hour SMA200, more pain ahead

ETH/USD is changing hands at $228.60. The coin has lost over 1% since the start of the day and gained 1.4% on a day-to-day basis. Ethereum is the second-largest digital asset has the current market value of $25.6 billion and an average daily trading volume of $6.5 billion.

More Ethereum News

LTC/USD to continue hibernating in a range

Litecoin is the seventh largest digital asset with the current market value of $2.7 billion and an average daily trading volume of $1.15 billion. The coin is locked in a tight range below $42.00.

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: US stocks and Bitcoin options to define Bitcoin's future

Bitcoin bottomed at $8,899 on Thursday, June 25, and recovered to $9,200 by the time of writing. While the pivotal $9,000 remains unbroken, the coin has been oscillating in a tight range for about two weeks now.

Read the weekly forecast

BTC

ETH

XRP