Bitcoin is getting Squeezed - and it likes it
I have been talking about Bitcoin getting squeezed a lot recently, mostly on X But..Here it is...Another view of this.
So, How is Bitcoin getign squeezed.
Overhead, we have that bold line that PA has been rejected from on a number of ovvasions now since the 1st week of March and it is a tough line to cross for many reasons.
So. Over head is tough. That is the upper line of the Squeeze
Below, we have a number of rising lines of support.
The most importsant thing to notice here is tht orange dotted line. Thatis the BASIS line off the Bollinger bands. Not how, when PA is bullish, it remains below PA and often cts as support. see image below - At the current rate of ascent, the Basis line will neet the overhead line of resistance by Thursday
https://www.tradingview.com/x/8VbHNbiS/
The Blue 100 SMa is rising also and is currently at the same price raange as the lower Bollinger band at around 66K USDT and then, we have a horizontal Fib line at 64K
All in all, a very Bullish situation but he ONE problem we have, is simply that rising Fib Fan line, that we are UNDER.....That alone could have Pa rejected once again so I say, remain cautious right now....But Optimistic
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