7/21 Price Analysis: BTC, ETH, XRP, BNB, ADA, SOL, DOGE, MATIC, LTC, DOT

Several Bitcoin price indicators suggest that BTC's tight trading range may end soon, leading to volatile price movement in BTC and altcoins.

Price analysis Join us on social networks

Bitcoin continues to test investors' patience as it remains stuck in a tight range. Although the short term is boring, traders should be vigilant as tight ranges are usually followed by a large increase in volatility. The only problem is that it is difficult to predict with certainty the direction of the breakout.

Glassnode's latest weekly newsletter highlighted that the consolidation of Bitcoin (BTC) has reduced the Bollinger Bands, which are only 4.2% apart. Citing various on-chain indicators, the authors concluded that investors are unwilling to sell, and in many ways this resembles "periods like 2016 and 2019-20, characterized by choppy market conditions".

Daily Cryptocurrency Market Performance. Source: Coin360

Although Bitcoin's short term may look uncertain, the long term remains bullish. Capriole Investments founder Charles Edwards said in an interview with Cointelegraph that access to BlackRock's exchange-traded funds app could make it "more easy for institutions to put Bitcoin on their balance sheet".

Will Bitcoin dip below range support and start a new downward move, dragging several altcoins lower? Let's study the charts of the top 10 cryptocurrencies to find out.

bitcoin price analysis

Bitcoin has been holding below the 20-day exponential moving average (EMA) of $30,067 since July...