Why Data Could Suggest Bitcoin Boredom Will Last Another Three Months

Crypto investors and traders who are bored and frustrated with the sideways price movements in Bitcoin should prepare for the worst-case scenario. In this case, the worst case and max pain scenario is not an outbreak or breakdown, but rather sideways.

According to data from the previous cycle, this narrow trading range could still take three months before sparks fly. And before it happens, the trading range could get even smaller.

Boredom in the cryptocurrency market leads to confusion and uncertainty

The Bitcoin price has reached the narrowest area in the asset's over ten-year history. Volatility is at record lows.

At this point, and after almost three full months of sideways price movements, crypto market participants would like to go both ways.

A breakout can begin after an early morning surge supported by a stock market pump and a gold rally. Any break in the currently narrow area would likely result in a collective sigh of relief in the crypto market.

Related Reading Bitcoin price remains above the weekly cloud again, but there's a shocking turn

Bitcoin's boredom has led crypto investors to altcoins, but a reversal of BTC dominance has once again confused the market.

All of the fear, uncertainty, and doubts could prevent today's potential breakout from being confirmed with volume, causing Bitcoin to not leave the trading range.

Earlier data shows that this kind of non-existent trend could continue for another three months, although almost all of the trade in the second quarter is spent in the same range.

bitcoin btcusd

Bitcoin sideways can extend another three months based on data from the previous cycle

According to a new report by Arcane researchBitcoin's trading range is now the narrowest in history.

And although the asset has reached such a narrow range, previous data suggests that the sideways price movement could continue for another quarter through 2020.

The side price promotion is now 84 days – or less than a week from a full 90 days. During the previous bear-bull market cycle, the market-leading cryptocurrency was trading sideways for almost half a year.

After the first trade within a range of 27%, the range was further narrowed to only 11%. Bitcoin price was trading in a 25% range for the first time this time, but has since fallen to the narrowest range ever.

Bitcoin btcusd sideways

Brave New Coin Bitcoin Liquid Index Daily | Source: TradingView

If the first cryptocurrency follows a path similar to the last cycle, BTCUSD may trade even closer in a sideways range for another three months.

The reach was further tightened for the first time after 90 days, right where Bitcoin is now in this cycle. Then it spent another 90 days in an area of ​​just under ten percent.

Related Reading How prolonging bitcoin cycles conflicts with halving driven supply theories

If you place the price action of the last cycle over the current price action, you may get an overview of what to expect in the coming months.

The explosive climb finally came sideways after a full 180 days and almost six months. A similar timeframe would trigger a major BTCUSD breakout by the fourth quarter of 2020 towards the end of October.

bticoin btcusd sideways 1

Brave New Coin Bitcoin Liquid Index Daily | Source: TradingView

The potential fractal would send Bitcoin to $ 17,000, where the first higher low formed and the bear market started. This level could be the last resistance before the crypto asset retests its previous all-time high.

Before this happens, the maximum pain scenario of another three months sideways can hold the crypto asset bay for a while longer.

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