Bitcoin’s High Volatility Potential Grows As BTC Nears Crucial Levels
The post Bitcoin’s High Volatility Potential Grows As BTC Nears Crucial Levels appeared on BitcoinEthereumNews.com.
Lately, the price of Bitcoin has been fluctuating due to overall market turbulence, causing broader fear and uncertainty within the general crypto landscape. Considering the current trend of several indicators, the digital asset could be poised for more volatility in the upcoming days. Bitcoin’s Price Set To Experience High Volatility Shortly As Bitcoin approaches crucial levels that could abrupt price swings, its potential for high volatility is growing as cited by Alphractal, an advanced platform for investment data analysis. The platform warns that BTC might encounter high volatility in the near future, leading to huge liquidations that will inflict pressure on investors and traders. This prediction of impending high volatility is occurring against the backdrop of a more uncertain market, where bulls and bears are competing for dominance. Alphractal prognosis was made after observing the Aggregated Liquidation Levels Heatmap metric in the last 7 and 14 days. According to the platform, there were large concentrations of longs on major crypto exchanges over the past 7 days, creating multiple huge liquidation pools with a maximum pain point that is a little below $60,000. Meanwhile, a review of the past 14 days shows that the highest liquidation level is still at the $67,000 price level. Bitcoin’s Aggregated Liquidation Levels Heatmap metric points to high volatility | Source: Alphractal on X Alphractal further highlighted that it is typical for new liquidation levels to develop above market price, as well as when the price is growing and falling. This is due to the fact that liquidity traces are left behind by market markers, which are subsequently searched for over time with great accuracy in spite of the time frame. With the digital asset drawing closer to the aforementioned support and resistance levels, many investors are gearing up for BTC’s next move which could result…
Filed under: News - @ October 10, 2024 10:28 am