Crypto investors and traders bored and frustrated with the sideways price action in Bitcoin should prepare themselves for the worst-case scenario. The worst-case and max pain scenario, in this case, isn’t a breakout or breakdown, it’s more sideways.
According to past cycle data, this tight trading range could potentially last another three months before sparks fly. And before it happens, the trading range could get even smaller.
Cryptocurrency Market Boredom Leads to Confusion, Uncertainty
Bitcoin price has reached the tightest range in the asset’s over decade long history. Volatility is at record lows.
At this point, and after nearly three full months of sideways price action, crypto market participants would gladly take either direction.
A breakout may be starting following an early morning surge supported by a stock market pump and rally in gold. Any break of the current tight range would likely lead to a collective sigh of relief across the crypto market.
Related Reading | Bitcoin Price Holds Again Over Weekly Cloud, But There’s A Shocking Twist
Boredom in Bitcoin has led crypto investors to altcoins, but a reversal in BTC dominance has the market confused yet again.
All the fear, uncertainty, and doubt could prevent today’s potential breakout from confirming with volume, causing Bitcoin to fail at leaving the trading range behind.
Past data shows that this type of non-existent trend could continue for another three months, despite spending almost all of Q2 trading inside the same range.
Bitcoin Sideways May Extend Another Three Months, According to Past Cycle Data
According to a new report from Arcane Research, Bitcoin’s
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