Bitcoin (BTC) meandered into the weekly shut on July 3 after weekend buying and selling produced a short wick beneath $18,800.BTC/USD 1-hour candle chart (Bitstamp). Supply: TradingViewBollinger bands sign volatility dueData from Cointelegraph Markets Professional and TradingView adopted BTC/USD because it caught to $19,000 rigidly for a 3rd day working.The pair had gone gentle on volatility total on the weekend, however on the time of writing was nonetheless on observe for the primary weekly shut beneath its prior halving cycle’s all-time excessive since December 2020.The earlier weekend’s motion had produced a late surge which saved bulls from an in depth beneath $20,000.Momentum remained weak all through the next week’s Wall Avenue buying and selling, nonetheless, and merchants have been unconvinced in regards to the potential for a big aid bounce.“On the lookout for a push all the way down to the decrease assist zone at $18,000 whereas we’re beneath $19,300. Fast scalp and tight invalidation,” standard Twitter account Crypto Tony wrote in an replace to followers on the day.“I can’t actually belief this transfer as a result of it is ‘weekend pa,’” fellow account Ninja continued in a part of an extra publish, including that “if bulls can’t push to $19.7k, I don’t suppose the dump is over.”Up or down, incoming volatility was being keenly eyed by commentators because the weekly shut drew close to. In style analyst Matthew Hyland famous that the Bollinger bands indicator was signaling that worth circumstances would quickly grow to be extra erratic.#Bitcoin Bollinger Bands tightening on the every day time-frame as displayed on the width indicator: pic.twitter.com/c0bqmMfdSi— Matthew Hyland (@MatthewHyland_) July 3, 2022
On every day timeframes, BTC/USD traded close to the underside Bollinger band, threatening a drop beneath as an expression of volatility much like that which occurred in Might.BTC/USD 1-day candle chart (Bitstamp) with Bollinger bands. Supply: TradingViewUnderwater addresses surpass March 2020 peakFresh information in the meantime confirmed simply how a lot ache the common hodler was going by after the worst month-to-month losses since 2011.Associated: Bitcoin indicator that nailed all bottoms predicts $15.6K BTC worth floorAccording to on-chain monitoring agency Glassnode, the weekly shifting common variety of distinctive BTC addresses now at a loss reached a brand new all-time excessive of 18.8 million on July 3.As Cointelegraph beforehand reported, in earlier capitulation occasions, 60% of the provision wanted to see unrealized losses.Bitcoin addresses in loss chart. Supply: Glassnode“Nearly $40 Billion in Bitcoin Web Realized Losses since Might 1st,” analytics account On-Chain School summarized as June got here to an in depth:“Some have give up, some have caught round. One factor is for sure- in case you’ve been on this house during the last 12 months and also you’re nonetheless right here, you’ve been by numerous volatility.”The views and opinions expressed listed below are solely these of the writer and don’t essentially mirror the views of Cointelegraph.com. Each funding and buying and selling transfer includes threat, you must conduct your personal analysis when making a call.