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Trading Expert Explains Why Bitcoin Price Could Soon Experience Major Volatile Move

  • Alex Dovbnya
    📰 News

    The Bollinger Bands are pitching hard, and Josh Rager says that it's time for another major Bitcoin price move

Trading Expert Explains Why Bitcoin Price Could Soon Experience Major Volatile Move
Cover image via www.123rf.com
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Cryptocurrency trader Josh Rager suggests that the days of relative stability in the Bitcoin market might be coming to a close. In his recent tweet, he predicts another volatile move "in a matter of days."   

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Calm before the storm

By relying on the Bollinger Bands indicator, one can easily determine the volatility of a given asset. When the bands are getting tighter, it means that there is a major volatile move in the offing.

The BBands started to pinch right before Bitcoin dropped by approximately 20 percent on Sept. 24, which prompted the appearance of many doom-laden price predictions. Meanwhile, Bitcoin pumped by 20 percent on Apr. 2 after a prolonging period of stability, which provoked a major market rally.    

John Bollinger, the creator of this widely used trading tool, recently opined that Bitcoin "had good potential" for a head-fake trade, thus setting up a perfect bear trap.    

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High stakes

The lack of volatility is necessarily good news for the bulls who are hoping for a quick revival. Rager points out that the top coin is currently trading below its 20-day MA (moving average), which could signal another downward move. To top of that, the prominent trader says that this is not the only reason why the Bitcoin price could plunge one more time, so buyers "need to step in."

As reported by U.Today, gold bug Peter Schiff says that Bitcoin could drop well below the $2,000 level given that it is about to form a bearish "head and shoulders" pattern.      

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester

  • Alex Dovbnya
    📰 News

    Tuur Demeester wants you to buy the dip as Bitcoin touches the support of its parabolic uptrend for the first time since March

Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Tuur Demeester of Adamant Capital has just taken to Twitter to calm down Bitcoin enthusiasts who might have been swayed by incredibly bearish sentiment on crypto Twitter. 

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Bitcoin recently dropped to $6,800, its lowest level since early May. However, Demeester apparently sees this as yet another opportunity to buy the dip. He states that top coin's parabolic uptrend that started at the beginning of 2015 hasn't been violated. However, Bitcoin has tapped support for the first time since March when Bitcoin was trading well below $4,000. 

Shortly after printing a huge red candle on the logarithmic chart, the Bitcoin price spiked by 20 percent on Apr. 2, which started the coin's massive run to $13,700. 

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As of now, BTC is down by nearly 50 percent from its yearly high, but this might not be the end of the nightmare for Bitcoin bulls. According to trading exert Josh Rager, the crypto king could plunge below the $7,000 level again after a fakeout to the $7,500 range. 

Gold bug Peter Schiff recently predicted that BTC could collapse to $10,000 level after competing the head-and-shoulders pattern.  

At the time of writing, BTC is sitting $7,313, CoinStats data shows. 

Subscribe to the official U.Today Telegram channel. Get news first!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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