Bitcoin (BTC): Volatility Squeeze

Updated

Bitcoin has been trading sideways for the last three days. In the previous update we were anticipating a move to 9600. The price may still be on its way there, but we need a confirmation to be on the safe side. The confirmation criteria to go long now is the break of 9365 level. Meanwhile, volatility has droped to the lowest level since May 3 - the day when the price broke out from the Triangle. Such low volatility makes me expect a sharp move from here. There are a couple of bullish setups in altcoins, so the confirmation on this chart will trigger them too.

Note

Bullish Flag in Dash targets 468:

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BTC: We need an hourly candle close above 9365/75. The previous hour closed below the signal line. No breakout yet.

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BTC: The market is dead in terms of volume. Consider taking a break if you are looking for high probability setups.

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Pay attention to this possible Ending Diagonal formation. Out of market for now, optimal Buy Zone specified:

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BTC: Great Ending diagonal thrust. We have entered the buy zone. Want to see a confirmation of bullish interest before jumping in.

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No safe buy signal. Better stay away for a while.

Nickonomics

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