BTCUSD - Some intraday thoughts 20/10/21
Updated
Every time we've had a large upthrust candle paired with a yellow capitulation volume signal, BTC has needed some time to cool off and shows some sideways movement. We could be rhyming this same reaction here.
However, we are poised slightly differently than the previous 2 examples - BBWP is not yet reaching peak levels, indicating some more volatility could be in the books in the short term. We have also made a new ATH on this upthrust. Regardless, it is likely we need some form of consolidation to form off and refuel after such a powerful move.
Cup & handle target has more or less been achieved (bar 1 or 2%).
However, we are poised slightly differently than the previous 2 examples - BBWP is not yet reaching peak levels, indicating some more volatility could be in the books in the short term. We have also made a new ATH on this upthrust. Regardless, it is likely we need some form of consolidation to form off and refuel after such a powerful move.
Cup & handle target has more or less been achieved (bar 1 or 2%).
Comment
Volatility, ahoy LOLRelated publications
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.