Bitcoin short-term holders will be ‘seriously tested’ if BTC loses $61.6K — Analyst
Bitcoin price oscillates in a narrow price range as BTC’s low volatility hints at a sharp price move around the corner.
Bitcoin’s (BTC) price action has been sideways over the past 36 hours, as BTC has been unable to break away from a range of $63,600 and $62,843. As illustrated in the chart, BTC is currently under the 50-day EMA level but remains above the 200-day EMA on the 4-hour chart.
BTC/USDT on the 4-hour chart. Source: Trading View
Bollinger Bands (BB) indicate that the current price might be a little oversold, as it remains under the indicator’s simple moving average (middle band line). However, the BB lines are currently in divergence, which indicates that the price action should experience short-term volatility.
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Author: Biraajmaan Tamuly
