Bitcoin may be sideways but traders are eyeing potential BTC price breakouts.
Highlights
- Bitcoin (BTC) reduced its narrow trading range even further into April 8 as risk assets waited for fresh catalysts.
- Increasing order book liquidity either side of spot price offers the market increasingly little room for maneuver.
- The pair continued sideways behavior into the weekend after the Wall Street trading week offered few surprises.
- In terms of the Bollinger bands volatility indicator, BTC/USD is currently experiencing some of its least volatile intraday conditions of 2023 — a classic precedent for a breakout.
- The S&P 500 has moved within a sideways range for nine months, Fidelity’s Jurrien Timmer said, “The market will declare itself in one direction or another”
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