Volatility Incoming
Updated
Been going sideways to long. Bbands are tight on most timeframes and it seems like we are about to paint a giant candle soon. Will it be up or down? Targets outlined
Let me know what you think
Let me know what you think
Note
Looks like if you took the top side of the noted support, you might have hit a buy order on a long. Will need a good close on the daily to think we can’t revisit ~$5850-areasNote
Box one hits a little ahead of schedule. Let's see what plays out next. Not ruling out a flashback to sub 6k, but looking good...Note
Various outlooks-Monthly: Looks like we are doing a rounded bottom on the lagging span. Bearish outlook which seems to be the most obvious timeframe showing the rationale for those calling for
4K downside. My thoughts, not likely in my opinion since the RSI is returning to levels that we haven't seen since the last bull run.
Weekly: This is usually where I find the best results. Looks like our lagging span and RSI are totally sideways along with the price. While bouncing off of the support and resistance marked on the chart in my initial post. As I mentioned before we could go to sub 6k easily as we see the 200 days EMA for BTC at a whopping 4k.
As noted above, I'm not of the belief we revisit 4k. If we do however revisit sub 6k it'll quickly be followed by a move toward the 50 days EMA of $7,100ish. Either way, I think we see $6,800 before sub 6k.
3 day: I'm a bull here. The Bbands look ready to move. There's a huge cloud above. EMA's lining up to show upward movement. Target 1 here is ~6,800 which would be followed by a possible dip back to current levels prior to a moon shot.
1 day: Same ish. Let's look to a more immediate jump in the upcoming days to ~$6,600 to validate some of these other predictions.
Not even bothering to go down to the 4HR since I do not day trade swings. No matter what, "Those who trade on a higher timeframe usually know best." Look at your what your indicators tell you starting from high to low. Usually, you'll be able to find some overlap to give you a better opinion on what's to come next.
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