After the Tether fud, ETF news, Bakkt announcement, Bitcoin is still trading sideways in a 12% range for 2 months.
Annual volatility at the moment for Bitcoin is at 22%( see Bitmex:Bvol ), what is really low as 45% is the level considered low volatility and we are under it.
Bitcoin is tradeable but very slow because of the low volatility, but consider every trade in this range as short term play. upper range 6800, lower range 6112.
I see a opportunity for a swing trade, see the chart.
Short 6650-6700
stoploss above 6841
targets 6100, 5950 and 5850
lets see if it plays out. If we do I will consider a long in the lower range
Annual volatility at the moment for Bitcoin is at 22%( see Bitmex:Bvol ), what is really low as 45% is the level considered low volatility and we are under it.
Bitcoin is tradeable but very slow because of the low volatility, but consider every trade in this range as short term play. upper range 6800, lower range 6112.
I see a opportunity for a swing trade, see the chart.
Short 6650-6700
stoploss above 6841
targets 6100, 5950 and 5850
lets see if it plays out. If we do I will consider a long in the lower range
