Preview
25 Oct 2022
Bitcoin price flat at $19k
Another week of flat prices sees BTC’s trading range narrowing even more. Prepare for volatility.
Our analysis and technical levels have now stayed unchanged for a month, with the bitcoin price laying flat at $19k.
We note that within the tight trading range between $19 and $20k, we're seeing lower highs and higher lows.Source: Tradingview (Coinbase)
One can argue that the trading range has evolved to a symmetric triangle; technically, we can expect a breakout and volatility by the end of October.
Bear in mind that technical analysis and patterns like these are nothing more than predicting future movements based on historical observations and no true science.Either way, the crypto market is remarkably flat right now, and we still expect volatility sooner rather than later.