Bitcoin (BTC) is about to see a massive volatility, according to a long-term technical indicator. Sure, the top cryptocurrency rose 42% two weeks back, from $ 7,300 to $ 10,500 apparently in the news that the President of China has called for formal adoption of blockchain technologies. But, something bigger is purportedly brewing.
Related Read: Despite Price Surge at $ 9,000, Bitcoin Not Bullish But: Analyst
Bitcoin Volatility on Its Way
According to a recent review of a weekly BTC chart by Mr. Anderson, a massive Bitcoin move is brewing. He noted that while it could easily be caught in "flashes of volatility" in lower time frames, a key indicator suggests a larger, extended move for the cryptocurrency market.
The indicator in question is a weekly Bollinger The Band Width (BBW) indicator ̵1; an indicator that shows the width between the highest and lowest Bollinger Bands, which is itself a tool used to determine ranges .
Today, the indicator is up to 0.42, or really long-term volatility. The last time this indicator contacted the BBW range was in late-March – just a week before Bitcoin was shot down from $ 4,000 to $ 5,000 in a surprising move that started on the micro bull market this year .
$ BTC Wkly  Something bigger is brewing! However, when dealing with w / larger numbers (i.e., $ 9000) it is also easy to overlook a lack of Volatility in scale (HTF)
The weekly say something bigger is coming pic.twitter.com/tOpj6FYDE5
– G. Anderson (@ TrueCrypto28) November 4, 2019
BBW was also under the 0.40 range just a week or two before Bitcoin crash in November 2018, when the previous bull run began in October 2016, and a few months before Bitcoin's breakdown of the previous $ 100 for the first time ever in 2013.
In other words, a long-term trend of Bitcoin's price is about to rise.
Related Read: An Ethereum Price Is Higher Surge as Bitcoin Slows: Analysis
Up or Down?
Of course, this will leave you wondering – will Bitcoin continue its bull trend or return to a bear market state?
According to apparently consensus analysts, a resumption of the bull trend earlier this year is more likely than not. As reported by NewsBTC previously, Trader HornHairs noted that "he likes the chance that we hit $ 14,000 before $ 7,000." He noted in a recent tweet that included Bitcoin trading strong and holding above a month's bullish, the 0.618 Fibonacci Retracement of the whole cycle, the Point of Control as defined by the volume profile, and the annual pivot, the BTC is dependent rather than bullish.
$ BTC Monthly rally
+ 1M bullish breaker
+. 618 retracement
+ HVN / PoC Profile Volume
+ Annual Pivot
+ Inside bar fakeout
I like the chances we hit $ 14,000 before $ 7,000. pic.twitter.com/0l1VlDAmA0
– HornHairs 🌊 (@CryptoHornHchair) October 31, 2019
Also, businessman and CoinTelegraph found FilbFilb contributing late November or beginning of November or beginning of November December, the 50-week and 100-week moving averages will see a "gold cross," which he claims is more significant "for the Bitcoin market than other technical crosses. .
Related Reading: The Bitcoin Retrace Is Down to $ 7,000? The Fractal Price Is So
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