The cryptocurrency has been moving sideways for the last 13 sessions and is unable to finish the consolidation period through a breakout. The pair is finding a strong resistance at $4,131 which is our 23.6% Fibonacci retracement and strong support at $3,367 in our 38.2% retracement.
The Bollinger bands continue shrinking and volatility is expected to be even lower in the next few days. We are seeing a normal behavior as the holidays are usually slow in the markets, in a week we might start seeing bigger movements and more trading opportunities.
The relative strength index is at 46% which is a very neutral level, it has remained almost unchanged for the last 13 days as the price was not moving much and there is no clear trend for now.
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