Bitcoin’s price is currently above $30,000 and it is not showing much volatility. According to technical indicator data provided by Glassnode, the Bollinger Bands range is very tight with only 4.2% separating them. This is the quietest Bitcoin market since early January.
The digital asset market continues to experience low volatility with the classic 20-day Bollinger Bands showing an extreme squeeze. Analysts shared a chart on Twitter showing the range of 4.2% between the upper and lower Bollinger bands.
The price of Bitcoin dropped from a high of $30,400 on late Sunday to an intraday low of $30,079 on Monday morning. Currently, it is down by around 0.5% at $30,180. Bulls must hold the psychological support base and prevent bears from pushing it further down. If not, a short squeeze could send it up to potential YTD highs of $34k. The key levels of concern in the short-term are $28,200 and 25,600.
