Bitcoin Price Decompression
Clearly the market is at a standstill, yellow circles indicate a compression of values, and now we seem to be reliving the decompression of those values. Continued small margins will persist before a final dip, spike and drop occur. It is not clear when this will take place; but the overall trend will match that of this weeks activity - periods of little price fluctuation - or sideways movement. Once the move does occur it will do so rather slowly; three waves of down trends, or chops, will mark the decline, and one or two 'uptrend' waves will mark the retrace; a value no greater than 254, before the new 'low' support levels are established and destroyed; which at this rate may happen over the course of at least weeks at the same rate, or even slower than the current trend.
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.