Analysis: Bitcoin Could See Volatility in Late 2024, New Price Consolidation Or 110,000 Dollar Range
2024-12-08 06:22:04
On-chain analytics platform cryptoquant research shows interval fluctuation line continuedesk3cryptocurrencydesktopCrypto News
Research from on-chain analytics platform CryptoQuant suggests that range volatility behavior will continue to frustrate Bitcoin bulls. Analyst Percival noted that the Bitcoin 14-Day Volatility Index (CI) is in the early zone, showing corrective movement during consolidation (note: higher CI values indicate more volatility in market conditions, and lower ones indicate that the market is trending up or down), which means that in the short term, Bitcoin bulls may see slow progress in price discovery. Percival added that by looking at the actual price of Bitcoin short-term holders, it is possible to predict the strong resistance levels that the market may encounter. The first resistance level is $110,000, and a new BTC price consolidation may be around this price level.
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