Crypto
Bitcoin Trapped in Seven-Week Range as Volatility Rises Ahead of Monthly Close
Bitcoin has been stuck in a seven-week range, characterized by choppy price action and increasing volatility as the month draws to a close.
The current price of $63,678.32 is below both the EMA50 at $64,566.44 and the EMA200 at $63,899.33, indicating a bearish structure in place.
The MACD death cross at -317.07 further reinforces this view, while the RSI remains neutral at 40.72.
As Bitcoin tests the upper Bollinger Band resistance at $65,672.46, analysts expect a retracement toward the lower band support at $63,132.4 and the confluence of the 50-EMA to be the most probable path before any sustained directional breakout.