{"id":110033,"date":"2021-01-25T10:12:36","date_gmt":"2021-01-25T10:12:36","guid":{"rendered":"https:\/\/precoinnews.com\/?p=110033"},"modified":"2021-01-25T10:12:36","modified_gmt":"2021-01-25T10:12:36","slug":"bitcoin-is-getting-squeezed-between-2-critical-levels-volatility-imminent","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-is-getting-squeezed-between-2-critical-levels-volatility-imminent\/","title":{"rendered":"Bitcoin is Getting \u201cSqueezed\u201d Between 2 Critical Levels; Volatility Imminent"},"content":{"rendered":"<ul>\n<li>Bitcoin\u2019s price action has been rather lackluster ever since it saw its sharp decline to lows of nearly $28,000 just a few days ago<\/li>\n<li>The selling pressure that sent it down to these lows has since subsided, but bulls have been struggling to extend the momentum that first sparked this movement<\/li>\n<li>Where the entire market trends in the mid-term may depend largely, if not entirely, on whether Bitcoin can sustain the rebound seen in the time following this movement<\/li>\n<li>One trader is now noting that the entire market could be well-positioned for a massive movement in the near-term<\/li>\n<li>He explains that BTC is being squeezed between two key technical levels that could have some heavy influence over its near-term trend<\/li>\n<\/ul>\n<p>Bitcoin\u2019s price action feels somewhat void of momentum, with investors and analysts largely focusing their attention on Ethereum and other altcoins for the time being.<\/p>\n<p>This comes as BTC hovers within the lower-$30,000 region, with bulls struggling to perpetuate the momentum that helped send its price rocketing from lows of just over $28,000 to highs of $33,000 that were set last night.<\/p>\n<p>One analyst is now noting that Bitcoin is currently hovering between two key technical levels, which could mean that it is only a matter of time before the crypto sees a massive movement.<\/p>\n<h2><strong>Bitcoin Struggles to Maintain Strength as Sellers Try to Regain Control<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>At the time of writing, Bitcoin is trading down just under 1% at its current price of $31,900. This marks a notable decline from its recent highs of $33,000 that were set overnight.<\/p>\n<p>The resistance here was quite intense and has since caused its price to slide lower, with no clear support until $30,000.<\/p>\n<p>If the crypto can gain any immense momentum in the short-term, it could invalidate this weakness and confirm the \u201cV-shaped\u201d recovery that bulls have been hoping for.<\/p>\n<h2><strong>Analyst Claims BTC is Gearing Up for a Massive Movement<\/strong><\/h2>\n<p>One analyst explained in a recent tweet that Bitcoin could be getting ready to make a big movement.<\/p>\n<p>He explained that it is currently trading squarely between its 21 and 200-day EMAs, which could mean a big movement is imminent.<\/p>\n<blockquote>\n<p>\u201cBitcoin getting squeezed between the cloud. Specifically between the 21 and 200ema &#8211; big move will follow.\u201d<\/p>\n<\/blockquote>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/bitcoinist.com\/wp-content\/uploads\/2021\/01\/EsgDsw2XYAE6lQm-980x493.jpg\"><\/p>\n<pre>Image Courtesy of Teddy. Source: BTCUSD on TradingView.<\/pre>\n<p>The coming few days should shine a light on whether this imminent move will favor bulls or bears, and tonight\u2019s weekly close should also be telling as to BTC\u2019s mid-term outlook.<\/p>\n<pre>Featured image from Unsplash.\nCharts from TradingView.<\/pre>\n<p>Source: <a href=\"https:\/\/bitcoinist.com\/bitcoin-is-getting-squeezed-between-2-critical-levels-volatility-imminent\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s price action has been rather lackluster<\/p>\n","protected":false},"author":3,"featured_media":110032,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin is Getting \u201cSqueezed\u201d Between 2 Critical Levels; 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