13 Juli 2021

TA Tuesday: Indications of volatility returning

Patrick Heusser

Patrick Heusser

Head of Trading bei Crypto Broker AG

Über den Autor

Currently, markets are quite boring, aside from some smaller token moves. Larger tokens continue to trade in a range that seems to becoming more and more narrow. This could be an indication that we will see some volatility coming back into the market.

I will only focus on BTC$ today, but I’m happy to take a closer look at other coins, too. Simply ping me privately.

BTC$ (daily)
The base line seems to have been the reference point over the past 6-8 weeks. We crossed it on our way down (at around $55k), and since then, we have barely managed to push back above it.

An unpopular opinion might claim that it looks like a „dead cat bounce“. I think we can only confirm that this is the case if we start trading below $29k, which could trigger further selling pressure. However, if it holds, everybody will say it was clear that we were in a consolidation phase. I reckon we need to push through $38k to get some bullish momentum back.

Otherwise, there is not much more to add. It is a sideways moving market: try not to overtrade, and stick to the range levels if you want to put on positions.