“As of now, BTC is averaging around $6,500 and the average daily volatility has dropped to $56 in the last seven days, meaning prices are moving just 0.86 percent on a daily basis. So, it seems safe to say that we are witnessing an unprecedented period of low volatility,” according to CoinDesk.
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Charts suggest bitcoin has plenty of work to do to earnestly snap out of its recent slumber.
“A break above the September high of $7,400 would put an end to the series of lower price highs (marked by circles). The bull breakout, if confirmed, would open the doors to a stronger rally to $10,000. On the way higher, BTC may encounter resistance at the July highs near $8,500,” according to CoinDesk.
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