Bitcoin kisses 50-day moving average as trader predicts fresh BTC price volatility
Bitcoin (BTC) filled the CME futures gap in advance prior to the Wall Street open on Feb. 14, reaching $42,870.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining swiftly on Feb. 14, with the start of U.S. trading keeping the pair around $42,500.
Feb. 13's weekly close had disappointed analysts, with Bitcoin failing to achieve a higher high on the weekly chart.
While volatility remained absent on the day, expectations were already flowing in regarding a trend change in the coming days.
#Bitcoin is on a boring county fair pony ride on the 50 MA.You know, the ones where the pony just walks in a circle connected to the big wheel in the middle?Yeah, that one. That's #Bitcoin. On the 50 MA. Whatever, shut up. pic.twitter.com/ESb22iXlBo
"Well, the volatility has drained down on Bitcoin. Awaiting a heavy week to come, in which the volatility probably comes soon as EU stock markets are also providing it," Cointelegraph contributor Michaël van de Poppe said in part of a recent Twitter post.
With little action among stocks and tensions over the Russia-Ukraine situation also reduced, thanks to the prospect of a fresh round of diplomacy, crypto markets offered few opportunities for an easy trade.
Order book volumes (OBV) likewise highlighted the narrow range in which BTC/USD was likely to act in the short term, thanks to trader positions.
"Daily OBV showing a strong buyer response at the lows and a strong rejection at the highs," popular Twitter account Nebraskan Gooner said.
Confident as ever, meanwhile, stock-to-flow model creator PlanB looked to next year for the magical $100,000 Bitcoin to hit.
Related: ‘Up only’ for BTC fundamentals — 5 things to watch in Bitcoin this week
Previously calling for that price to
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