Bitcoin May Come Out of the Narrow Band Soon
Improvements seem to increase volatility
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We see that Bitcoin prices have become shallower lately, especially in a market where volatility has been over 60% for the past week, and has become stuck in a $ 200 band. As the end of the month approaches, we begin to talk about the terms and sizes of options and futures contracts. Bitcoin prices, which have been flat for some time, were priced in the range of $ 8,000-10,000 consolidation channel, including 9,300-9,800 narrow band. Another development is that when geopolitical risks erupt between China and India this time, we will test whether Bitcoin is a safe haven or an alternative investment instrument.
When we consider Bitcoin technically; Although it is attempted to operate with horizontal movements occurring within the existing descending channel, possible 9,300USDT support breakdowns are waiting for purchase by support of 9,100 and 8,700 USDT below. Currently, the movements on the edge of 9,400 USDT are mounted on horizontal oscillators. In movements towards the 9,400 level, we see that all three oscillators are confirmed between each other and cross the overbought region and indicate profit realization. So two in-purchase options can be offered in terms of processing technique. The first one is to wait for the 9,400 USDT profit realization and buy from the supports listed below or try the short distance transaction towards 9,800 with the purchase to break the 9,400 USDT level
