Bitcoin's Price Volatility Just Hit Another 15-Month Low

Bitcoin price volatility continues to drop, with one measure having reached a 15-month low.

Weekly volatility, as calculated by the difference between the high and low, fell to $317 last week - the lowest reading since the first week of July 2017 - according to Bitfinex data.

The leading cryptocurrency witnessed a trading range of $498 and $741 in the previous two weeks, respectively.

The data indicate that BTC is being squeezed in an ever-narrowing price range and, as per technical rules, a decisive move is overdue.

Bollinger bandwidth reading fell to the lowest level since December 2016 last week.

BTC defended $6,100 and created a bullish outside reversal in the third week of September, as seen in the weekly chart.

Notably, the cryptocurrency created a doji candle last week, signaling indecision in the marketplace.

The odds of a big bullish move would rise if BTC finds acceptance above the last week's high of $6,741.

On the other hand, a move below the last week's low of $6,424 may embolden the bears.

View The last week's high of $6,741 and low of $6,424 are key levels to watch out for this week.