Bollinger Band Compression
Hi,
I have exited my late long positions (29K) at the 38K resistance level.
Took small position Short (Trend is super bullish) at 37.5K SL 38.6K
BTC has hit the upper bound of the monthly Bollinger bands.
A retracement to its 20-day moving average is possible, but I foresee a more severe correction towards 19K, allowing the Bollinger bands to compress again and a period of re-accumulation to become possible.
As a result, BTC would also retest Wyckoff BO structure from January 2023.
I have exited my late long positions (29K) at the 38K resistance level.
Took small position Short (Trend is super bullish) at 37.5K SL 38.6K
BTC has hit the upper bound of the monthly Bollinger bands.
A retracement to its 20-day moving average is possible, but I foresee a more severe correction towards 19K, allowing the Bollinger bands to compress again and a period of re-accumulation to become possible.
As a result, BTC would also retest Wyckoff BO structure from January 2023.
Note
Added short at upper Monthly BB @38.4KAverage short 38K
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.