Bitcoin’s 30 day compression score has hit 93.9%, an extreme reading that has now appeared for the fourth time during the current bear market phase, according to CryptoQuant analyst Axel Adler Jr.
What makes this setup interesting is that BTC has spent roughly 20 days testing its yearly moving average without establishing a sustained breakout above it.
High compression doesn’t tell us which direction the next move will take. It simply shows that volatility has become unusually suppressed, meaning a larger move could be building.
$BTC
What makes this setup interesting is that BTC has spent roughly 20 days testing its yearly moving average without establishing a sustained breakout above it.
High compression doesn’t tell us which direction the next move will take. It simply shows that volatility has become unusually suppressed, meaning a larger move could be building.
$BTC
