Volatility Squeeze Keeps Bitcoin Traders on Edge

Bitcoin is currently trading in a narrow range between $63,100 and $65,500 on the 5-hour chart. Despite being stuck between major moving averages, traders are watching for a potential breakout that could trigger rapid moves.

The price action creates a volatility squeeze as it remains inside the Ichimoku cloud. Historically, breaks from this zone often create stronger directional moves.

While momentum indicators remain mixed, the MACD has moved into positive territory, suggesting buyers are attempting to regain control. However, the broader trend still favors sellers, and recent price action continues to reflect selling pressure.