Bitcoin Volatility Declines to 1-Month Low; What to Expect?

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Bitcoin expects to undergo major price swings in the coming sessions as its price volatility hits its lowest levels in more than a month. The benchmark cryptocurrency has chartered lower highs and lower lows (wedge) since the beginning of January, and a lack of strong market bias has both bears and bulls scraping for clues. As a result, the volatility represented by Bollinger Bands width—a technical tool represented by +2, -2 standard deviations of an asset’s moving average—has hit its late December levels. Bitcoin volatility dips amid its price correction from near $42,000-high, as represented by CryptoHamster. Source: BTCUSD on TradingView.com It is worth highlighting that a prolonged period of low volatility typically paves the way for a stronger directional bias. That means Bitcoin could soon witness big price moves in either direction. Bullish Confluence Analysts at independent trading firm TradingShot believes the cryptocurrency would move to the upside, based…

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