BTCUSD - Squeeze but can it really go 9 days?
Updated
Latest Note:
So we are entering another squeeze here with a slightly bullish signal. This is a pretty unfathomable run at 8 straight days green. I can't see this continuing the streak however it could cool off and wait a whole day going slightly red in a squeeze before taking off again. Watch and hold here. 38.5 is about the possible breakdown area. 40.8 is around the Uptrend area.
Previous Replay Notes:
1) This has been on an insane ride up after 2 Uptrend signals. Profits would have been at 20% here so a good place to exit but also would have been difficult to refrain from entering when you see the next pump and drop.
2) The hold squeeze was very short lived and bulls regained quickly after just 1 bounce. I didn't catch it till the 2nd bounce, but didn't matter as I was still long in a hold pattern. If you exited at comment 1, the squeeze would have been a good place to get back in.
3) The Uptrend was also short lived. There was still plenty of money to grab in the short stint, especially if grabbed back in at the last squeeze.
So we are entering another squeeze here with a slightly bullish signal. This is a pretty unfathomable run at 8 straight days green. I can't see this continuing the streak however it could cool off and wait a whole day going slightly red in a squeeze before taking off again. Watch and hold here. 38.5 is about the possible breakdown area. 40.8 is around the Uptrend area.
Previous Replay Notes:
1) This has been on an insane ride up after 2 Uptrend signals. Profits would have been at 20% here so a good place to exit but also would have been difficult to refrain from entering when you see the next pump and drop.
2) The hold squeeze was very short lived and bulls regained quickly after just 1 bounce. I didn't catch it till the 2nd bounce, but didn't matter as I was still long in a hold pattern. If you exited at comment 1, the squeeze would have been a good place to get back in.
3) The Uptrend was also short lived. There was still plenty of money to grab in the short stint, especially if grabbed back in at the last squeeze.
Note
It does hit the possible upbreak line. Getting close to that 40.8 needed to confirm uptrend. Not sure if it will make it and whether it will be a quick spurt or not.Note
3.5 hours to go and it is still holding in the squeeze zone. It has gotten tighter and currently favoring the bears by a very slight margin now. Still keeping to my prediction of popping off after the day cool off (can't predict which way it will zoom off to though, which is why "Watch and Hold" still in effect until a signal comes in otherwise).Tighter squeeze made it 39k for breakdown and 40.8k for breakup.
Trade closed: target reached
Daily ended with a doji. Some exchanges closed red, some closed green. Coinbase is 9 straight greens now!As predicted this was a cool off daily that did nothing but stay in a squeeze. This idea is closed as it only covered the daily but the overall remains in Watch And Hold. A New idea may pop up once there is a possible breakout one way or another (39 or 41).
Ends with an extremely low bullish sentiment that can easily flip to bearish especially given the 9 straight green dailies. PS the record is 12 straight greens on the daily for Coinbase BTCUSD in May 2017.
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