Are we nearing the bottom or is there is more room for a downside move? Many think that we have almost reached the bottom or very near enough to form that. This debate could go on forever and one can spend a lot of time on this topic. However, one element which cannot be ignored is that the Average Trading Range (ATR) for Bitcoin has dropped and this tells us that Bitcoin isn’t the same animal it used to be.
The Average True Range (ATR) for bitcoin in Q2 dropped from $400 to $140. If you compare this to Q1, the number would open your eyes, the average true range for bitcoin during Q1 peaked at $1,400 and dropped to $166. Generally, the average true range explains the volatility, and lower ATR is associated with lower volatility.
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