For the last 17 trading sessions, Bitcoin has been trading within a $4,000 range which is significant but not what the cryptocurrency has us accustomed to. The price is consolidating at the mid to low $30,000’s
The relative strength index continues almost unchanged. We have not seen it above 49% nor below 42% in the last 17 trading sessions; this will allow the pair to move in either direction, making it hard to make a prediction.
The price could enter the Ichimoku cloud in the subsequent nine sessions. The cloud continues moving downwards, signaling that the price is expected to continue falling. The general trend continues to be downwards.
Our parabolic SAR indicator suggests that the cryptocurrency will start an uptrend soon; however, it has been indicating this for the last 15 sessions, and the price remains almost unchanged.
The Bollinger bands are starting to open up, which could bring higher volatility in the short term, exactly what the crypto-asset needs.
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