Bitcoin Movement Still Tends To Sideways, What To Do?

Bitcoin illustration (photo: Unsplash)

JAKARTA - Bitcoin movement from July 24, 2023 until today, Tuesday, August 15, 2023 still tends to be sideways. The BTC/USD pair moved from 28,900 to 29,800 US dollars.

According to data from The Block, Bitcoin's volatility in the last 30 days period is currently at 15.5 percent, which fell below its lowest level in December 2018 which was at 18.97 percent.

"Because the movement of Bitcoin sideways has caused the flow of transactions to lead to altcoins, it has been proven that most of the altcoins have experienced a strengthening in the last seven days," said Crypto's Magical Financial Expert, Panji Yudha in an online Crypto Magic monthly discussion on Tuesday, August 15.

According to Panji, this Bitcoin sideways occur because demand and offers are equally strong, asset prices tend to be stable so that the trend of stock price movements is horizontal

"When the Bitcoin Sideways movement can be a good time to collect Bitcoin at a lower price. Investors can gradually buy Bitcoin at lower prices and store it as part of a long-term strategy," said Panji.

More than that, Panji also revealed that crypto traders and investors can take advantage of sideways price movements to take advantage. Traders can buy when prices enter support levels, and resell them at resistance prices.

However, Panji suggested that traders be more careful if prices drop below the support level, there is a possibility that prices will fall even lower.

On the other hand, if prices pass the resistance level and are followed by a higher price peak increase, the sideways will end and enter the bull market.