It sure looks like we are running right smack into a volatility squeeze! So, let's have a quick look!
The dotted Primary Trendline has held since December 15, 2018. We have 3 data point's on the overhead green line we are squeezing against.
You can see the two green downward green trendlines indicating a Bearish longer-term trend. You can see a pennant formed with the pole in the upward rectangle: Bullish if we can hit bounce off the lower green trendline.
The price balloons are suggested support and resistance:
R1 - $3830.xx
R2 - $3937.xx
R3- $4091.xx
S1 - $3493.xx
S2 - 3429.xx Set Alert
Anything below S2 - indicates a breakdown of BTC, where we lay back and wait for price action to stabilize.
This short-term triangle appears Bearish to me and the bottom could just fall right out at the dotted trendline. I would not be interested in gambling on this set up because BTC could run in either direction with some volume, but if I had to choose: I am Bearish and hoping to buy near the lower green trendline.
Set your alerts and refer to this chart as needed. The trendlines play key roles in support and resistance! It does appear we are a few candles from something happening!
Best,
Biff
The dotted Primary Trendline has held since December 15, 2018. We have 3 data point's on the overhead green line we are squeezing against.
You can see the two green downward green trendlines indicating a Bearish longer-term trend. You can see a pennant formed with the pole in the upward rectangle: Bullish if we can hit bounce off the lower green trendline.
The price balloons are suggested support and resistance:
R1 - $3830.xx
R2 - $3937.xx
R3- $4091.xx
S1 - $3493.xx
S2 - 3429.xx Set Alert
Anything below S2 - indicates a breakdown of BTC, where we lay back and wait for price action to stabilize.
This short-term triangle appears Bearish to me and the bottom could just fall right out at the dotted trendline. I would not be interested in gambling on this set up because BTC could run in either direction with some volume, but if I had to choose: I am Bearish and hoping to buy near the lower green trendline.
Set your alerts and refer to this chart as needed. The trendlines play key roles in support and resistance! It does appear we are a few candles from something happening!
Best,
Biff
Comment:
Looks like the squeeze is ON!
