Bitcoin Price Volatility Due in Days, New Take Says BTC Flatlines at $16.8K

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Bitcoin (BTC) hodlers saw another day of zero volatility on December 26 as hopeful forecasters looked for signs of a trend change.

BTC/USD 1 hour candle chart (Bitstamp). Source: TradingViewOpinions diverge further on BTC price bottom

Data from Cointelegraph Markets Pro and TradingView confirmed more sideways action near $16,800 for BTC/USD on Boxing Day.

The pair took the holiday season in its stride, with reduced volumes having no impact in an already deflated market experiencing its lowest volatility on record.

With few trading opportunities in the final week of Do Nothing December, analysts tried to brace the ship for potential headwinds ahead.

If BTC fails to reclaim ~$17,150 as support before year end, then $BTC will set the $13,900-$17,150 range as a new playing ground, Rekt Capital tweeted in a new update. the day.

Therefore, at worst, BTC could drop to the low range of $13,900, which translates to a -20% decline from current prices.

Rekt Capital was referring to a previous theory involving support levels on the 1-month BTC/USD chart.

BTC/USD annotated chart. Source: Rekt Capital/Twitter

The new downsides have remained a popular bet among commentators, with Crypto’s Il Capo emphasizing more than ever that a new weak macro is yet to come.

I think most bears are expecting 10k, ignoring all support before that level. 11k-13k is very strong support that should hold, he reasoned.

Responding, however, another popular trading account, Profit Blue, stuck to its warnings that $10,000 would mark the bottom of Bitcoin’s bear market.

BTC/USD annotated chart. Source: Crypto’s Il Capo/TwitterAnalyst countdown until volatility returns

When it came to breaking the agonizing low-volatility status quo, trader Elizy meanwhile had a potential silver lining for market participants.

Related: Bitcoin Accumulation Targets Nearly 800,000 Records Despite Whale Sale

The BTC movement is coming…. I think in the next 48h part of a tweet said the day.

Elizy added a 1-week BTC/USD chart with strong support in place at just over $13,000.

BTC/USD annotated chart. Source: Elizy/Twitter

Many, however, were more than happy to wait for the BTC price “chopfest” to naturally end.

The views, thoughts and opinions expressed herein are the sole authors and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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