RATE Group | Bitcoin Price Volatility Hits Lowest Level In Nearly 2 Years
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Bitcoin Price Volatility Hits Lowest Level In Nearly 2 Years

26 Sep Bitcoin Price Volatility Hits Lowest Level In Nearly 2 Years

Posted at 11:58h in Bitcoin News by

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A three-month long bitcoin price squeeze (BTC) could be nearing an end, with a key volatility indicator reaching its lowest level for 21 months.

The leading cryptocurrency has charted lower price highs and lower price lows (pennant) since the end of June and the lack of strong direction bias has both bulls and the bears waiting on the sidelines.

As a result, volatility as represented by Bollinger bands width – a technical analysis tool derived from +2, -2 standard deviations of a price’s moving average – has hit the lowest level since December 2016. When measured by standard deviation across all exchanges, volatility is at the lowest since July 2017, according to Bitcoinity.

It is worth noting that an extended period of low volatility usually paves way for a strong directional bias, meaning bitcoin could soon witness a big move in either direction.

At press time, BTC is trading largely unchanged on the day at $6,450.

Daily chart

Over on the daily chart, BTC is trapped in a…

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