Bitcoin (BTC) Down 0% Tuesday: What's Next?

Tuesday, March 21, 2023 06:37 AM | InvestorsObserver Analysts

Bitcoin (BTC) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Tuesday, the Digital Money has lost 0.36% to $28097.2.

InvestorsObserver is giving Bitcoin a 14 Volatility Rank. Find out what this means to you and get the rest of the rankings on Bitcoin!

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Low Volatility

InvestorsObserver gives Bitcoin a low volatility rank of 14, placing it in the bottom 14% of cryptos on the market.

The Volatility Gauge takes into account this makes its score defined by recent trends, rather than a bad day. BTC's low volatility reading is paired with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.

Bitcoin price is well positioned going forward. With support near $27316.95 and resistance at $28601.8. This positions Bitcoin with room to run before facing selling pressures.

What is a Coin?

A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.