Bitcoin is lining up a burst of volatility that could rival its 40% January gains, on-chain data suggests. BTC price has acted in a tight range for an entire month, using $30,000 as a focal point for sideways behavior, putting both bulls and bears to the test. According to popular analyst Aksel Kibar: "Seems like $BTCUSD is exhausting many trader's patience," he wrote on July 21, before adding that this "is usually the condition you see before strong moves. Not sure about the direction though. I will stick with my well-defined boundaries. I know that increased volatility is around the corner. Capture the directional move." According to Bollinger Bands behavior, a classic volatility indicator, this move should come sooner rather than later as it's printing a telltale sign that the days of rangebound BTC price action are at an end.
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