BTC returns to mean/pivot@19500;Bollinger squeezing for big Move
BTC keeps returning to the pivot line at 19500 which also acts as a support. It is also barely holding the
base of the triangle as support. Bollinger Band is squeezing for a big move soon. As for now, the Head & Shoulder pattern neckline is still not yet broken, suggesting much lower prices if the neckline breaks.
We just have to wait which way it breaks. If current double support holds, we may be seeing 22k next.
If SPY continuous to break below the June low this week after major economic data on Thursday, there is a big chance BTC support will also fail. Then the17k to 16K zone is the next support.
Not trading advice.
base of the triangle as support. Bollinger Band is squeezing for a big move soon. As for now, the Head & Shoulder pattern neckline is still not yet broken, suggesting much lower prices if the neckline breaks.
We just have to wait which way it breaks. If current double support holds, we may be seeing 22k next.
If SPY continuous to break below the June low this week after major economic data on Thursday, there is a big chance BTC support will also fail. Then the17k to 16K zone is the next support.
Not trading advice.