The BTCUSD is due to a major move soon. The pair has been consolidating to the downside for several months now and it has been significantly squeezing until now.
During the last few months, the pair formed Lower Highs and Higher Lows, hence forming a nice pattern that is about to be broken.
The Sentiment Index is squeezing which is a great indication that something big is about to happen.
The Breakout Pivotal Bars is negative (red candles) so a breakdown seems more likely but we need to wait and see the color of the breakout candle.
Either way the price will break, we are prepared and ready to profit from the move.
During the last few months, the pair formed Lower Highs and Higher Lows, hence forming a nice pattern that is about to be broken.
The Sentiment Index is squeezing which is a great indication that something big is about to happen.
The Breakout Pivotal Bars is negative (red candles) so a breakdown seems more likely but we need to wait and see the color of the breakout candle.
Either way the price will break, we are prepared and ready to profit from the move.
Note
The consolidation has widened in October and the setup is still there. In the meantime, with such a big range, there are plenty of opportunities on lower timeframes.Note
Exactly as predicted. It's now trading in the low 4000 and it still has further downside potential.Trade closed: target reached
Closed shorts around 3290-3330
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❤️ Trading videos: bit.ly/MT-Channel
📊 Stock Analysis
💜 FundaView: fundaview.com
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📈 Trading Indicators
💚 1-Week FREE Trial: minimalisttrading.com
❤️ Trading videos: bit.ly/MT-Channel
📊 Stock Analysis
💜 FundaView: fundaview.com
🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺
📈 Trading Indicators
💚 1-Week FREE Trial: minimalisttrading.com
❤️ Trading videos: bit.ly/MT-Channel
📊 Stock Analysis
💜 FundaView: fundaview.com
🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺
Related 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.