Bitcoin continues to show signs of change on price charts, although it is expected to experience “classic weekend chop” in the short term.
BTC/USD remained stable near $29,500, a crucial level for bulls and bears.
Market participants were surprised by the lack of movement throughout the week.
Long positions from Bitcoin whales were observed on the Deribit exchange.
The Binance BTC/USD order book suggests that the rangebound status quo will likely continue.
Bitcoin’s lack of volatility could lead to a powerful return to trend.
BTC price is approaching “historic compression” levels, indicating a potential significant move.
Investors should conduct their own research and exercise caution when making investment decisions.