Bitcoin price volatility continues to drop, with one measure having reached a 15-month low.
Weekly volatility, as calculated by the difference between the high and low, fell to $317 last week - the lowest reading since the first week of July 2017 - according to Bitfinex data.
The leading cryptocurrency witnessed a trading range of $498 and $741 in the previous two weeks, respectively.
The data indicate that BTC is being squeezed in an ever-narrowing price range and, as per technical rules, a decisive move is overdue.
Bollinger bandwidth reading fell to the lowest level since December 2016 last week.
BTC defended $6,100 and created a bullish outside reversal in the third week of September, as seen in the weekly chart.
Notably, the cryptocurrency created a doji candle last week, signaling indecision in the marketplace.
The odds of a big bullish move would rise if BTC finds acceptance above the last week's high of $6,741.
On the other hand, a move below the last week's low of $6,424 may embolden the bears.
View The last week's high of $6,741 and low of $6,424 are key levels to watch out for this week.
Bitcoin's Price Volatility Just Hit Another 15-Month Low
Published on Oct 8, 2018
by Coindesk | Published on Coinage
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