Bitcoin kisses 50-day moving average as trader predicts fresh BTC price volatility

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Bitcoin (BTC) filled the CME futures gap before Wall Street opened on February 14, reaching $ 42,870.

Hourly candlestick chart BTC / USD (bit stamp). Source: Trading View
Trader: Volatility is gone, but not for long
Data from Cointelegraph Markets Pro and TradingView showed that BTC / USD rose rapidly on February 14 when trading started in the US, where the pair swung around $ 42,500.

The weekly close on February 13 disappointed analysts as Bitcoin failed to reach its highest level on the weekly chart.

Although there was no volatility during the day, expectations were already flowing to a trend reversal in the coming days.

“Okay, bitcoin volatility is exhausted. A tough week ahead as volatility is likely to start as soon as EU stock markets take care of it,” Cointelegraph contributor Michael van de Poppe tweeted in a recent tweet.

Due to the lack of action between stocks and tensions over the situation between Russia and Ukraine, thanks to the prospect of a new round of diplomacy, the cryptocurrency markets have provided few opportunities for easy trading.

The order book volumes (OBV) also highlighted the tight range in which BTC / USD is likely to operate in the short term thanks to the trader’s trades.

“Daily OBV shows strong buying reaction at the lowest levels and strong rejection at the tops,” according to the popular Nebraskan Gunner Twitter account.

“It means we have a lot of power at both ends, and that could mean we cut a little here.”
Transfer $ 100,000 to 2023
Meanwhile, the sink-to-flow creator was more confident than ever that he was looking forward to the magic bitcoin of $ 100,000 next year.

Related: BTC ‘just up’ the basics – 5 things to see in Bitcoin this week

PlanB, which previously requested that this award take place by Christmas 2021, has faced harsh criticism after BTC’s relatively weak Q4 results, and admitted that the first two years of the current halving cycle have not been realized.

Meanwhile, a cool pause has spread to major cryptocurrencies, many of which have not changed in 24 hours at the time of writing.

Ether (ETH) was one of them, completely unchanged at $ 2,940 while the largest driver in the top 10 cryptocurrencies by market value, Ripple (XRP), was still down by only 3% from 13 February.

Source: CoinTelegraph

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