[Bitcoin Volatility Contracts to Nearly Two-and-a-Half-Year Extreme Levels, Preparing for Significant Fluctuations] BlockBeats News, October 20: According to Barchart, Bitcoin's daily Bollinger Bands have reached one of the tightest widths in the past two and a half years. This indicates that Bitcoin is undergoing a 'consolidation squeeze' and may be preparing for a major market move. BlockBeats Note: Bollinger Bands are a commonly used technical analysis indicator consisting of three lines: - Middle Band: Typically a 20-day Simple Moving Average (SMA) - Upper Band: Middle Band + 2 standard deviations - Lower Band: Middle Band - 2 standard deviations Historical data shows that after Bollinger Bands tighten significantly, a directional breakout (either upward or downward) often follows. It is common for volatility to expand suddenly from an extremely low state. [Original Link]