- 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.
|Today last price||7296.17|
|Today Daily Change||-9.94|
|Today Daily Change %||-0.14|
|Today daily open||7306.11|
|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|
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