On Saturday, the Bitcoin exchange rate fell by $ 150 and is now at $ 7,150. Analysts believe that the first cryptocurrency needs to cross the $ 7,300 mark to continue to grow.
According to the Bollinger indicator - a price prediction model based on a 20-day moving average - volatility should return to cryptocurrency markets soon.
The Bitcoin price volatility has increased by almost 200% over the last month, as BTC has risen above the $ 5,000 mark.
According to Bitvol.info, the price volatility of the first cryptocurrency increased by almost 200% from a monthly low of 1.26% to 3.31% for the period from April 1 to 2. Currently, the volatility indicator is at the level of 3.54%.
After the Bitcoin rate jump at the beginning of the month, the price of the first cryptocurrency is in the consolidation phase. However, some traders believe that Bitcoin will soon reach $ 5,800.
Despite the fact that in recent days, the rate of the first cryptocurrency has slightly increased, the main resistance is at around $ 5,400. Bitcoin price is approaching this mark, but so far, it cannot break through the wall of orders placed by sellers.
