BTC - Volatility Incoming
BTCUSD approaching the end of three week pattern, bands squeezing, volume at its lowest in the pattern - implying volatility ahead with breakout; but near term indecision ahead of today's FOMC meeting minutes and ECB's report on Euro financial stability.
From a pattern perspective you can see a possible ascending triangle, but know knowing how whales drive markets, I could see a swing low into the upper 20k range to soak up some liquidity and wreck early longers before a potential move to the upside to say mid 30k range. But I think the direction will largely depend on how the FOMC minutes and ECB reports look this week.
From a pattern perspective you can see a possible ascending triangle, but know knowing how whales drive markets, I could see a swing low into the upper 20k range to soak up some liquidity and wreck early longers before a potential move to the upside to say mid 30k range. But I think the direction will largely depend on how the FOMC minutes and ECB reports look this week.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.