Bitcoin is showing tight constriction within daily Bollinger Bands.
The last time Bitcoin was this constricted was in May and when the bands released, BTC soared 40% from 5100 to 8700.
I recommend being patient and trading the breakout.
Short - look for support on 200SMA 8100-8600.
Longs look for resistance at 13.9k, 15-16k.
The last time Bitcoin was this constricted was in May and when the bands released, BTC soared 40% from 5100 to 8700.
I recommend being patient and trading the breakout.
Short - look for support on 200SMA 8100-8600.
Longs look for resistance at 13.9k, 15-16k.
Note
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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.
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.