Crypto Market On Verge of Explosive Move: Here’s Which Way It Will Trend

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Although the past few weeks have been marked by crypto assets jumping 5% then crashing 5% again and again, Bitcoin and the rest of the cryptocurrency market is actually consolidating. The chart below shared by a crypto trader proves this point: it shows that Bitcoin has been trading tightly between the key 50-day and 200-day simple moving averages for the past two weeks. In a further sign of the times, according to data shared by Skew.com, the implied volatility of the Bitcoin price — derived from the trading of BTC derivatives — has collapsed by approximately 50% in the past 30 days from 142% to 76%. Not to mention, the Bollinger Bands, a technical indicator that effectively measures an asset’s volatility, is nearing multi-month lows. These three factors in tandem suggest that the crypto market is about to undergo an explosive move, but in which way? Bulls are Winning the…

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