Bitcoin’s next parabolic Mmvement is around the corner

Florian Grummes believes bears would override the bulls, but bull-run still in play



Crypto analyst points reasons why Bitcoin is in the No Trade Zone

Bitcoin has been somewhat stable without its usual display of high volatility in the last 48 hours. BTC keeps swinging within a range of prices.

Howbeit, some crypto analysts believe that the king of coins would soon showcase its usual high volatility feature, which could end up being retrogressive of its present price status.

Bitcoin investors, especially those with bags full of the digital asset perpetually dream of daily price increase, while traders don’t always care about where the price goes, but only on their short term gains with technical strategies.

Consolidation of Bitcoin is taking a lot longer, and this is a possible sign that its next move could be plunging devastatingly below or surging significantly above. This has severally come to play, and same could still apply in regards to its price movement.

About two days ago, it took Bitcoin a very short while to gain relatively $1,000 in a historic parabolic price movement, which made BTC climb to around $10,300 from about $9,200 price level.

Although Bitcoin has been stable for quite some time, but some crypto analysts still envisage on possible price lows. At the time of writing, BTC is trading at $10,492.68, with 1.56% price deficit in the last 24 hours.

Bitcoin’s Next Parabolic Movement is Around the Corner

Josh Rager, a well-known crypto analyst and trader on twitter recently analised the price trend of Bitcoin (BTC). He made a deduction from 4-hour price chart, inferring that the digital currency would make a notable move this week.

$BTC (mobile view) Weekly/daily close was neutral Closed in the range between primary support/resistance levels But volatility expected to happen this week, BBands starting to pinch on 4 hour Hopefully we get some live action on the charts to start the week 🎆 pic.twitter.com/ZUdBIdLElg — Josh Rager 📈 (@Josh_Rager) July 22, 2019

Florian Grummes Believes Bears Would Override the Bulls

Florian Grummes, an independent financial analyst and Gold trader, also drew his conclusion about the direction which Bitcoin could soon head.

In his recently published sentiment, he opined that a slight or notable price correction should be expected, stating that weekly chart shows that BTC has been overbought and it has to settle for consolidation.

He however cleared that bulls are still in control, despite the possibility of Bitcoin retesting above $6,000 and $9,000 level.

“The weekly chart is without question overbought and actually needs to cool down. Yet above $6,000 and especially above $9,000 the bulls remain in control,” he summarized.

Crypto Rand Says Bitcoin is in the No Trade Zone

Crypto Rand, a popular analyst and trader sent a piece of advice to fellow Bitcoin traders via his twitter handle. He stated that BTC is still in a full macro bull trend since weeks, corroborating Florian Grummes’ stance, but presently in a no trade zone.

He pointed that the risk reward could be terrible for both longs and shorts trades.

Read his statement below:

Bitcoin stuck in the middle of the channel and fighting the 0.382 FIB while lacking volume. But still in a full macro bull trend since weeks. Keep it simple. This is a no trade zone. Terrible risk reward for both longs and shorts. Sometimes, no trade is the best trade.