Bitcoin ‘coiling’ up for a huge move as it hovers around $71K

Bitcoin’s average price across 5-day, 30-day, and 50-day periods are almost the same, indicating low volatility and raising the chances of a price breakout in either direction.

Bitcoin (BTC) may soon find itself at a critical price crossroads as its average price across three different time frames has now fallen within a tight cluster — signaling a potential breakout.

“After some nice coiling pricing action since March, my boring Bitcoin Trend model triggers,” Real Vision’s chief crypto analyst Jamie Coutts said in a June 4 X post after flagging Bitcoin’s similar average price across three short-term periods, which have all fallen within a 5% range.

On June 4, the Simple Moving Average (SMA) — which calculates the average of past prices within a specified time window — indicated a convergence across three different periods, the 5-day, 30-day, and 50-day periods. All three intervals fell between $65,000 and $68,239.

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