Bitcoin Chart Pattern Predicts Volatility Surge and Losses
- An abnormally quiet may be preparing for a pick-up in turbulence and a lurch down.
- Bitcoin has moved -58.20% so far, this year.
- The BTC-USD chart pattern suggests that a spike in volatility is soon to come.
If history indicates, an unusually calm Bitcoin may be bracing for a pick-up in turbulence and a lurch lower.
The biggest cryptocurrency in the world is infamous for its volatility, but in the four months since it struck a bottom in mid-June. it has defied this reputation by fluctuating in a relatively narrow range around the $20,000 level.
The price of Bitcoin was rejected from the important barrier level of $20K just as it started to show some positive potential for a potential trend reversal.
As of October 10, the price of Bitcoin is $19,343.29, changing by -0.93% over the last 24 hours.
After the most recent Bitcoin price movement, the market capitalization of tokens was $371,042,764,241.62. Bitcoin has had a shift of -58.20% so far this year.
BTC has been in a consolidation phase since August, and it is now time for the next move.
The bullish pattern formed back in January predicts that Bitcoin will surge higher again. The pattern shows that the price of Bitcoin will go up repeatedly and consistently.
The volatility of the market will increase as well, but this is to be expected as the bulls are attempting to defend their gains. The losses that may occur during this time could be significant, but as long as the trend remains intact, there is a good chance of making substantial profits in the end.
According to the BTC-USD chart pattern, a volatility surge is likely forthcoming. This means that losses could be incurred in response to sudden price drops, as was seen in late 2017 and early 2018.
It is crucial to monitor the market and adjust your trading strategies as necessary to avoid falling victim to this type of volatility.
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