Bitcoin trapped in a 9-day range, with SMA 365 acting as key support.

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Bitcoin remains confined within a 9-day range between $80,000 and $86,000, with the 365-day SMA serving as a key support level. The 30-day price range has narrowed from 13% to 6%, and the price recently reached a 30-day low of $80,500 after rebounding from the support and resistance levels. Analyst Axel Adler Jr. noted that declining volatility often precedes a breakout, with $86,000 as the next major resistance level.

Odaily Planet Daily report: CryptoQuant analyst Axel Adler Jr. posted on X that Bitcoin has remained in a volatility contraction phase, with the price range between the highest and lowest prices over the past 30 days narrowing from 13% to 6%, and the price holding steady within the $80,000 to $86,000 range for nine consecutive days. Yesterday, Bitcoin found support near the 365-day simple moving average (SMA 365), rebounded, and closed at $80,500, marking its lowest level in nearly 30 days.

He noted that volatility contraction is often followed by sharp price movements, with a key resistance level at $86,000 and the 365-day moving average as a key support level.

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