(Bloomberg) — Bitcoin has been languishing in a range of about $45,000 to $51,000 for a month or so now, but it may be about to rally again. The cryptocurrency’s 30-day historical volatility is at the lowest since September, and the price is showing short-term exhaustion signals. The so-called Demark Sequential indicator is flashing a “9-13-9” pattern just above the $43,295 to $44,500 support zone, which is defined by the 61.8% Fibonacci retracement of Bitcoin’s entire June-to-November rally and prior Demark support.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
