The Bitcoin price volatility has been one of the main topics in the Bitcoin news section of our cryptocurrency news website mainly because of its record-breaking lows. In the latest news, the Bitcoin price volatility dropped again, this time reaching a new 15-month low.
The weekly volatility of Bitcoin, which is calculated by the difference between the high and the low, fell to $317 last week which was the lowest reading since the first week of July 2017, according to data from Bitfinex.
What’s more important is the fact that the leading cryptocurrency witnessed a trading range of $398 and $741 in the previous two weeks, indicating that Bitcoin (BTC) is being squeezed in a price range and a market where a decisive move is overdue.
There are also other measures of Bitcoin’s price volatility which are echoing similar sentiments. One of them is the Bollinger bandwidth, a technical analysis tool used to measure standard deviations of a price’s moving average. This measure has also fallen to the lowest level since December 2016.
Currently, Bitcoin is trading at $6642 with a small increase (0.82%) over the course of the past 24 hours. After defending $6,100 and creating a bullish outside reversal in the third week of September, Bitcoin is now stable – but its follow-through is far from encouraging at this point.
Right now, only a convincing upside move above the trendline would confirm a bullish breakout and cover these record lows.
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