Several trading indicators are showing a significant price move for Bitcoin in the near future.
For the past few months, Bitcoin’s price has shown range-bound action only, with the BTC/USD pair still trading around the $19,100 mark as of the middle of the third week of October 2022. The eerie lack of Bitcoin’s natural volatility has been a reason for concern among crypto traders in the last two weeks. After all, the sideways trading between the $18,000 and $25,000 price marks has been witnessed for about 127 days now.
A majority of crypto analysts agree on one thing, however, that a significant price move is coming soon. According to Glassnode analysts, the one-week realized volatility has dropped to 28% for BTC, which is a level historically shadowed by a steep move in price.
Meanwhile, researchers at Delphi Digital are pointing to the Bollinger Band Width Percentile (BBWP) indicator as proof of a big upcoming BTC price move.
Bollinger Band Width Percentile in correlation to BTC’s value
As the firm has stated, “Historically, BBWP readings above 90 or below 5 have marked major swing points.”