Bitcoin | The Calm Before The Storm? [BTCUSD]
Taking a look at the BTC charts today, Bulls and Bears seem kind of in equilibrium.
The range is getting tighter and tighter. I don't think we will immediately break above 6.6k or below 6.2k.
We mighty consolidate between this range for a while.
This may seem like BTC has finally stabilized, but I rather think it's the calm before the storm.
We're at the end of a multi-month consolidation pattern - therefore, I assume that we will see some violent moves soon.
The upcoming ETF decision is probably the catalyst.
Bitcoin going sideways may give Altcoins some room to breathe.
Since they've been dragged into the dirt so much, I'd assume that they go up during BTC consolidation.
Patterns
Ascending triangle or bear pennant. Pick your poison.
Have a nice day!
The range is getting tighter and tighter. I don't think we will immediately break above 6.6k or below 6.2k.
We mighty consolidate between this range for a while.
This may seem like BTC has finally stabilized, but I rather think it's the calm before the storm.
We're at the end of a multi-month consolidation pattern - therefore, I assume that we will see some violent moves soon.
The upcoming ETF decision is probably the catalyst.
Bitcoin going sideways may give Altcoins some room to breathe.
Since they've been dragged into the dirt so much, I'd assume that they go up during BTC consolidation.
Patterns
Ascending triangle or bear pennant. Pick your poison.
Have a nice day!
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.