🔥 Bitcoin Extremely Tight: Violent Move Coming!
Bitcoin has been trading in an extremely tight range for nearly three weeks at this point. The 228,000 - 229,000 resistance area is proving to be a big obstacle, but for how long?
Bitcoin's range has gotten even tighter since the start of April, where BTC's daily opens and closes are within 3% of each other for an extended period of time.
Historically, periods of extremely low volatility have been followed up by periods of extremely high volatility. In my view, we will get this volatility very soon.
I'm anticipating a bullish break out. Bitcoin's narrative is still great versus classical banks and the stock market is in a full-on bull mode. On the other hand, a bearish move is still possible, especially with the CPI numbers next week.
Hold on tight, because we're going to see a violent move in the very near future.
Bitcoin's range has gotten even tighter since the start of April, where BTC's daily opens and closes are within 3% of each other for an extended period of time.
Historically, periods of extremely low volatility have been followed up by periods of extremely high volatility. In my view, we will get this volatility very soon.
I'm anticipating a bullish break out. Bitcoin's narrative is still great versus classical banks and the stock market is in a full-on bull mode. On the other hand, a bearish move is still possible, especially with the CPI numbers next week.
Hold on tight, because we're going to see a violent move in the very near future.
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