BitcoinLong
BTC Pullback! Continuation pattern in the mix BTC is indeed long
Greetings everyone,
Technical Analysis:
Our MA's are doing the talking and are spelling a possible slight spill for BTC. It is hard to tell right now, but BTC is testing the support at the 21 MA. If it falls through BTC will fall through possibly to the first support barrier on the 77MA. I expect a bounce from there IF it does fall to that level.
Everyone is talking about it...LOW VOLUME. Low buying volume is making BTC very susceptible to a swing either way and shows that these big investors and family offices are playing chess against each other, the common man is just along for the ride.
On a positive note it seems that the BOLLINGER BANDS are squeezing down on the price action, that is why I added them here. When these bands squeeze we can see that we are setting up for a big rally and a change in direction.
PREDICTION:
My prediction is that BTC trades side ways for a little while allowing the bands to squeeze down on each other and then finally we will see some volume come in.
Technical Analysis:
Our MA's are doing the talking and are spelling a possible slight spill for BTC. It is hard to tell right now, but BTC is testing the support at the 21 MA. If it falls through BTC will fall through possibly to the first support barrier on the 77MA. I expect a bounce from there IF it does fall to that level.
Everyone is talking about it...LOW VOLUME. Low buying volume is making BTC very susceptible to a swing either way and shows that these big investors and family offices are playing chess against each other, the common man is just along for the ride.
On a positive note it seems that the BOLLINGER BANDS are squeezing down on the price action, that is why I added them here. When these bands squeeze we can see that we are setting up for a big rally and a change in direction.
PREDICTION:
My prediction is that BTC trades side ways for a little while allowing the bands to squeeze down on each other and then finally we will see some volume come in.
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