Absolute Lack of Volatility

Hello Steemians,

Last time I posted nearly 2 months back BTC was trading near 6700. Today as I write this post it is trading near 6350. For an instrument as volatile as BTC, this is remarkable! BTC daily 50 EMA is nearly horizontal, another remarkable feat. Let us have a look:

I marked the last time I posted with a yellow ellipse. In BTC term since then as if nothing happened in the market. BTC is trading at an incredible narrow range of 6000-6800 for nearly 3 months. In percentage term such a narrow range perhaps never happened in the trading history of BTC.

Steem:

Very similar story for Steem. Last time I wrote, Steem was trading near $0.90. As of this writing it is trading at 0.76. HF-20 and everything else that is associated with it is behind us. I am not sure what is the impact of all that on prices at the moment. Actually as far as I am concerned BTC correlation with the rest of the crypto is perhaps nearly all time high at the moment.

What market is perhaps looking for is some kind of driver to break out of this trading range. Until we figure out what is that driver, any kind of price prediction is moot.

Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.

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