🔥 Bitcoin Weekly Volatility On Critical Lows: Big Move Coming🚨
The Bitcoin 1-week volatility index measures the weekly percentage move by Bitcoin. A low value means that, during the week, BTC doesn't do a lot and trades relatively flat. The closer the bottom graph is to zero, the lower the volatility and the more 'boring' the market.
As seen on the chart, the weekly volatility is currently at a historical critical point. The previous three times that the weekly volatility reached this area were signals for a huge upcoming move, both bullish and bearish. Keep in mind that this indicator does not tell us which direction the move will be, all we can deduce is that it will be a big move.
In my view, it's more likely that we will get a big bearish move compared to a bullish one in the near future. Stocks are close to making new bear-market lows and the risks of a recession are increasing by the week. On the other hand, I'm not ruling out a bullish move. We could very well get a move like in April 2019 after trading bearish for over 14 months.
Time will tell!
As seen on the chart, the weekly volatility is currently at a historical critical point. The previous three times that the weekly volatility reached this area were signals for a huge upcoming move, both bullish and bearish. Keep in mind that this indicator does not tell us which direction the move will be, all we can deduce is that it will be a big move.
In my view, it's more likely that we will get a big bearish move compared to a bullish one in the near future. Stocks are close to making new bear-market lows and the risks of a recession are increasing by the week. On the other hand, I'm not ruling out a bullish move. We could very well get a move like in April 2019 after trading bearish for over 14 months.
Time will tell!
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