Bitcoin kisses 50-day moving average as trader predicts fresh BTC price volatility

Bitcoin (BTC) filled the CME futures gap in advance prior to the Wall Street open on Feb. 14, reaching $42,870.

Trader: Volatility gone, but not for long

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining swiftly Monday, with the start of U.S. trading keeping the pair around $42,500. 

Sunday’s weekly close had disappointed analysts, with Bitcoin failing to achieve a higher high on the weekly chart.

While volatility remained absent on the day, expectations were already flowing in regarding a trend change in the coming days.

“Well, the volatility has drained down on Bitcoin. Awaiting a heavy week to come, in which the volatility probably comes soon as EU stock markets are also providing it,” Cointelegraph contributor Michaël van de Poppe said in part of a recent Twitter post.

With little action among stocks and tensions over the Russia-Ukraine situation also reduced thanks to the prospect of a fresh round of diplomacy, crypto markets offered few opportunities for an easy trade.

Order book volumes (OBV) likewise highlighted the narrow range in which BTC/USD was likely to act in the short term thanks to trader positions.

“Daily OBV showing a strong buyer response at the lows and a strong rejection at the highs,” popular Twitter account Nebraskan Gooner said.

“This means we have a strong force on either end and could mean we chop around here for a bit.”

$100,000 moved to 2023

Confident as ever, meanwhile, stock-to-flow model creator PlanB looked to next year for the magical $100,000 Bitcoin to hit.

Related: ‘Up only’ for BTC fundamentals — 5 things to watch in Bitcoin this week

Previously calling for that price to occur by Christmas 2021, PlanB, who has faced significant criticism after BTC’s comparatively lackluster Q4 performance, admitted that the first two years of the current halving cycle had not delivered.

The eerie calm meanwhile extended to major altcoins, many of which had barely moved in the 24 hours to the time of writing.

Ether (ETH) was one of them, completely static at $2,940, while the biggest mover in the top ten cryptocurrencies by market cap, XRP, was still only down 3% compared to Sunday.

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