You thought BTC was volatile? Take a look at the pound right now. (Reporting via WilliamSuberg)
showed BTC/USD firmly rangebound at around $19,000 overnight, moving only around $400 up or down.
United States equities opened with no significant volatility, this focused more on the United Kingdom, where the pound reacted to news that Liz Truss had resigned as Prime Minister.on social media at the time of writing showed that GBP and BTC volatility had become practically identical, the latter already in its least volatile period since 2020.With macro triggers failing to have an impact, analysts flagged solid support and resistance levels keeping price action in check.
“Bitcoin continues to trade in a congested and critical range,” Keith Alan, founder of analytics resource Material Indicators,Alan highlighted two key moving averages closing in on each other and acting as resistance boundaries to the trading range. “The 21-Day MA has confluence with resistance at the trend line from the ATH and the 50-Day MA has confluence with resistance at the 2017 Top,” he explained.Exchange data hints at strength of breakdown
Continuing investigation of the current trading range, Filbfilb, co-founder of the trading suite DecenTrader,
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