On Monday, bitcoin’s price surpassed the $10,000 mark again, which is a psychological resistance level, and a point where the price was rejected in February following a 50% rally since the start of the year. The bulls haven’t come yet. A sell-off began on Tuesday and the price sharply declined from $10,182 to $9,416.
Despite the unprecedented price volatility seen in the past five months, “HODLing” sentiment has remained strong. Nearly 60% of bitcoin’s supply hasn’t changed hands in over a year, a sign that investors are likely holding expecting gains, according to Glassnode. At the press time, Bitcoin moved past $9,700 again.
How to Make Money when BTC’s Price Fluctuates Strongly?
According to the 1-day chart, BTC’s price hit the upper Bollinger band boundary. In general, when the price breaks out of the space between the bands, it suggests that volatility going up or down is incoming. If the band contours are not narrowing, the price will fluctuate within the Bollinger band. There is also a Head Fake at the upper Bollinger Band which may signal a downtrend movement.
From the technical analysis above, we can predict that Bitcoin’s price is consolidating at around $9,300 - $9,800. Before Bitcoin surges above $10,000, we can profit from the fluctuations with BTC margin trading with 100x leverage.
Bexplus - Popular BTC Futures Exchange for U.S. and European Traders
Bexplus is an advanced bitcoin-based cryptocurrency exchange offering 100x leverage crypto futures trading. Established in late 2017 and registered in Saint Vincent and the Grenadines, Bexplus has set offices in Singapore, Japan, the US, and Brazil and is constantly expanding worldwide. In Bexplus, 100x leverage is applied in BTC, ETH, EOS, LTC, XRP futures contracts, which is yet a rare possibility on the majority of crypto exchanges, with maybe a handful of legitimate providers.
Fast registration with NO KYC
All traders in the cryptocurrency market including investors in the United States, United Kingdom, and Canada can register an account and trade in the platform. Using only your email, you can sign up for an account in 30s with NO KYC required.
No Deposit Fee & 24/7 Withdrawal
Bexplus doesn’t charge any deposit fee, you only need to pay for the miners who confirm the transaction. You can submit a withdrawal request anytime you want, and it will be processed and credited in your wallet in 30 minutes during work hours.
Trading Simulator with 10 Free BTC
If you are new to the BTC futures market, you can familiarize yourself with the perpetual futures contracts by trading with the 10 free BTC in a simulator.
- Mobile Support
Official Bexplus App for Android and iOS are downloadable from Google Play and App Store. It gives you a chance to trade cryptocurrency futures contracts and profits on the go.
- Up to 10 BTC Deposit Bonus
All users in Bexplus are eligible to apply for a one-time deposit bonus up to 10 BTC . For example, if you deposit 1 BTC in your account, you will get 2 BTC credited in your account.
Join Bexplus now and have a chance to make a great fortune with 100x leveraged Bitcoin perpetual contracts!
Featured image via Unsplash.