BTCUSD Breakout imminent
Bitcoin looks set to stage a breakout from its short-term trading range, as a number of key technical indicators are pointing to an increase in volatility. The Bollinger Band indicator is starting compress, which usually indicates a major directional move is on the horizon. Additionally, the BTCUSD pair’s Average True Range on the weekly time frame has just fallen to its lowest level since July 2019.
The BTCUSD pair is only bullish while trading above the $10,630 level, key resistance is found at the $10,750 and the $10,900 levels.
If the BTCUSD pair trades below the $10,630 level, sellers may test the $10,300 and $9,800 levels.