Bitcoin (BTC) Price Analysis: Volatility Jumps But Still Directionless - Coins On News
Bitcoin spiked strongly in both directions over the past few hours as volatility ticked higher but failed to put price in a clear course. It is still trading within the symmetrical triangle consolidation previously highlighted but might be showing some upside. The 100 SMA is below the longer-term 200 SMA, though, so the path of least resistance is to the downside. In other words, support is more likely to break than to hold. In that case, price could fall by the same height as the triangle, which spans $3,850 to around $4,050. However, price is trading above the 100 SMA