Bitcoin/USD: reduced volatility results in a rally

There have been four previous occasions when the volatility of Bitcoin has been this low (as measured by the width of Bollinger bands) on Bitcoin/USD. In all four cases, the subsequent price movement was upwards. In the chart below, the oscillating line shows Bollinger band width. The lower the reading, the tighter the Bollinger bands. This is consistent with Bitcoin undergoing a consolidation period.

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