Analyst: Bitcoin range narrows to 6% as 365-day SMA becomes key support
- —BTC's 30-day price spread narrowed from 13% to 6%
- —Price has stayed in the $80K–$86K range for nine days
- —Bounce off the 365-day SMA ended with a close at $80,500
- —Narrowing ranges typically resolve in a sharp move
Why it matters: Volatility compression often precedes an explosive move, with a break of $86K or loss of the 365-day SMA likely to set direction.
Source: PANews