Bitcoin's narrowing price range and low volume creates the perfect condition for massive volatility. The low volume means whales can easily move the price several percentage points with a market order. In a couple of day, we will likely see a massive move up or a massive move down.
I have outline key resistance and support levels that have bound the price in the past few days. If the Bitcoin breaks resistance, consider going long. If Bitcoin breaks supports, consider selling or shorting.
I have outline key resistance and support levels that have bound the price in the past few days. If the Bitcoin breaks resistance, consider going long. If Bitcoin breaks supports, consider selling or shorting.
Note
Bitcoin is currently holding at support levels. If Bitcoin makes a clear break (instead of just wicks) below this level, it could signal bigger moves to the downside.
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.
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.