Bitcoin: USD/BTC (BTC=X) volatility reached the lowest level in over four months

Bitcoin: USD/BTC (BTC=X) volatility reached the lowest level in over four months

Bitcoin: USD/BTC (BTC=X) volatility reached the lowest level in over four months

Bitcoin volatility reached the lowest level in over four months.  Bitcoin has been suffering due to relative stagnation over the past weeks, and the measure of volatility went down to its lowest in nearly four months.

The 30-day volatility of the digital currency was calculated by making use of the price data from different exchanges, and it touched 53.5%

David Martin, “So far in September, bitcoin’s price has continued the consolidation and range-bound nature that was kicked off early August.”

The relative slowdown in volatility has been attributed to the calm before the storm.

Joe DiPasquale, CEO of cryptocurrency fund of hedge funds when discussing the bullish trend, stated, “bodes well for future valuations.”

Bitcoin is currently stuck in the consolidation phase.  To draw, newer interest from retail investors and to experience strong price appreciation, the digital currency would have to break out of the phase.

Breez is now facilitating you to buy Bitcoin with your credit card.  Breez is more than a wallet. It is a lightning payment service which focuses on providing a holistic experience. Breez facilitates to take the lightning technology and infrastructure to expose it in a lesson, which regular folks will be able to use without compromising on the Bitcoin values.

However, developers are continuing to iron out security issues related to this wallet. Breez does not ask for personal information for monthly purchases of up to $150 Euro; however, it requires that you prove your identity information in compliance with KYC norms to outlaw money laundering and criminal laws.

There was a transfer of 94,504 Bitcoins, and it is not clear as to who manned the transaction.  When it comes to Bitcoin terms, this is not the most significant transaction, but when it comes to conversion to fiat, the value is notable indeed.

It is a mixed picture in the cryptocurrency market.  Bearish bias and range-bound trading are prevalent in the market.  Several altcoins are directionless.Some analysts opine that Binance Coin would decline by 40% due to the current uncertainty around the market. Investors are not willing to invest in exotic unregulated jurisdictions.  When investors are not able to sell their tokens, then it becomes worthless. Investors are not interested in getting caught with heavy bags, eventually dumping the altcoins more in favor of regulatory friendly Bitcoin and Litecoin. The trends are mixed. Whether alts will resume or Bitcoin will dominate is for time to tell.

Technical Indicators

Overall, the bias in prices is: Downwards.

The projected upper bound is: 11,003.34.

The projected lower bound is: 9,177.11.

The projected closing price is: 10,090.23.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 25.5388. This is not an overbought or oversold reading. The last signal was a buy 1 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 46.39. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 77 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -14. This is not a topping or bottoming area. The last signal was a sell 6 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.

Rex Takasugi – TD Profile

FOREX BTC= closed down -42.900 at 10,082.100. Volume was 73% below average (consolidating) and Bollinger Bands were 50% narrower than normal.

Open     High      Low     Close     Volume___
10,093.75010,222.00010,053.82010,082.100 23,736
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 10,358.34 10,402.10 7,900.56
Volatility: 29 55 78
Volume: 75,228 83,304 82,444

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX BTC= is currently 27.6% above its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of BTC= (mildly bearish). Our trend forecasting oscillators are currently bearish on BTC= and have had this outlook for the last 19 periods.

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