{"id":22339,"date":"2023-07-17T14:38:52","date_gmt":"2023-07-17T14:38:52","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-hovers-at-30k-amid-lowest-historical-volatility-for-2023\/"},"modified":"2023-07-17T14:38:52","modified_gmt":"2023-07-17T14:38:52","slug":"btc-hovers-at-30k-amid-lowest-historical-volatility-for-2023","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-hovers-at-30k-amid-lowest-historical-volatility-for-2023\/","title":{"rendered":"BTC hovers at $30k amid lowest historical volatility for 2023"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1686814335420-46d096ae-bdc6-4ebb-a8a9-3432aea370be-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1686814335420-46d096ae-bdc6-4ebb-a8a9-3432aea370be-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1686814335420-46d096ae-bdc6-4ebb-a8a9-3432aea370be-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1686814335420-46d096ae-bdc6-4ebb-a8a9-3432aea370be-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">BTC price is near the $30k mark, which bulls may be desperate to protect.<\/li>\n<li dir=\"ltr\">Bitcoin\u2019s \u00a0historical volatility is at its lowest level in 2023.<\/li>\n<li dir=\"ltr\">Short-term bullish target could be above $34k, while major support is near $28.2k.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin<\/a>\u2019s price remains above $30,000 on Monday, but is seeing \u201cremarkably little volatility.\u201d According to a key technical analysis indicator for this measure, the prices are tightly squeezed to suggest a breakout in either direction could be big.<\/p>\n<h2 dir=\"ltr\">Bitcoin price outlook: Bollinger Bands<\/h2>\n<p dir=\"ltr\">According to on-chain data and analytics provider Glassnode, the Bollinger Bands are tightly squeezed and a price range of only 4.2% separates the upper and lower bands. The platform notes that this outlook has Bitcoin at its quietest since early January.<\/p>\n<p dir=\"ltr\">\u201c<em>The digital asset market continues to see remarkably little volatility, with the classic 20-day Bollinger Bands experiencing an extreme squeeze. A price range of just 4.2% separates the upper and lower Bollinger bands, making this is the quietest #Bitcoin market since the lull in early January<\/em>,\u201d Glassnode analysts<a href=\"https:\/\/twitter.com\/glassnode\/status\/1680875530244042752\" rel=\"noopener noreferrer\" target=\"_blank\">\u00a0<u>tweeted<\/u><\/a>, sharing the chart below.<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 700px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/06\/17\/1689601969484-5658a859-30d0-4fdd-bb34-354c345111c1.jpg\" style=\"width: 700px\" class=\"fr-fic fr-dib\" width=\"700\" height=\"353\"\/><span class=\"fr-inner\">Bitcoin price Bollinger Bands range. Source: Glassnode on Twitter.<\/span>\u00a0<\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">In technical analysis, the Bollinger indicator offers a chart outlook where price trends reflect the market\u2019s volatility. Traders use the indicator to identify overbought or oversold market conditions.<\/p>\n<p class=\"fr-img-space-wrap2\">Bitcoin recently broke from above the upper bands and currently fluctuates beneath the middle trendline. Support of the lower Bollinger bands is around the crucial $30k level.<\/p>\n<\/div>\n<p dir=\"ltr\">Data shows BTC price has declined from highs of $30,400 late Sunday, touching intraday lows of $30.079 on Monday morning. Currently at around $30,180, the top cryptocurrency by market cap is down about 0.5%.<\/p>\n<p dir=\"ltr\">While accumulation around the current prices is staggering, bulls have to hold above this psychological support base. If not, bears could push lower first before a likely short squeeze catapults BTC\/USD to potentially news YTD highs of $34k. The key downturn levels to watch in the short term are at $28,200 and $25,600.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-hovers-near-30k-as-historical-volatility-lowest-for-the-year\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) BTC price is near the $30k mark, which bulls may be desperate to protect. Bitcoin\u2019s \u00a0historical volatility is at its lowest level in 2023. Short-term bullish target could be above $34k, while major support is near $28.2k. Bitcoin\u2019s price remains above $30,000 on [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":22340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22339"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=22339"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22339\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/22340"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=22339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=22339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=22339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}