Bitcoin (BTC) is known to be a volatile asset, but so far, this has not been the case. Bitcoin has been in a very tight range since the end of November, between $91,000 and $109,000.
In other words, Bitcoin’s volatility has been greatly compressed. According to Glass Festival data, the volatility achieved for 2 weeks provides turmoil in assets over the past two weeks, measuring volatility over the past two weeks has dropped to an annualized 32%, one of the lowest levels in years. Furthermore, these choices suggest a month of volatility, which is the market’s expectation for four weeks of volatility, which is below 50% of annualized, one of the lowest levels in years.
To introduce the amount of Bitcoin in this side merger, consider that the analyst Checkmate call is “Chop index”. The data show that based on the weekly timeframe, Bitcoin is at its highest level since 2015 based on its chopping, indicating the tension in this transaction range.
Volatility is often meaningful, meaning that an unusually stable market usually paves the way for major actions in the direction and vice versa. The longer the consolidation time, the violent explosive explosion.
To shorten the abbreviation of the long story, the ongoing range game is the most intense competition since 2015 and will soon pave the way for outdoor price action. Bitcoin will break this range at some point. The question remains whether it will get higher or lower.
