It was expected in the crypto money markets, which has been keeping its horizontal course for a long time, and the first sudden volatile movement took place. However, according to the data put forward by the experts, the movement in question may not be limited to this.
Last week as Koin Bulletin bitcoin (BTC) graph Bollinger He mentioned the importance of the width of the bands and after a long time “excessive contractionWe stated that the level of ” is seen. We interpreted this narrowing in the width of the Bollinger bands, one of the most used indicators by many traders, as a harbinger of a sharp price action, and finally, on October 25, this technical thought gave its result.
According to many commentators, the indicator showing low volatility when the band gaps narrow, how narrow the band is the price moves so “hard”. Bitcoin price in 24 hours 5% Although the rise is interpreted as a sudden and highly volatile movement for the short term, the Bollinger band still continues in a more congested area. According to commentators, the rise experienced yesterday may represent the beginning of a new volatile period.
However, analysts say that CryptoQuant open interest data Bitcoin after a long silence A major liquidation period for futures may be approaching. he foresees. According to the open interest formation, the price is sufficiently out of this range. volatile If it behaves, there is a possibility that a liquidation wave (Long or Short positions) will occur and continue for a while.
On the other hand, it is necessary to take into account the important macroeconomic news that will take place this week. Especially Thursday, October 27 Important financial statements are expected to be made by both the US and the EU on the same day.