BTC (Y20.P3.E20).The squeeze and micro level

16 juil. 2020

Hi All,

Looking at the micro level, we can see we just dropped out of a micro wedge\triangle compression to the downside.
I think it will hit the bottom support as per chart and if it holds there, it will be a slow grind up like we had in late 2018 bottom.
I think this whole formation is looking for the bottom support and then a boring grind upwards, as per 2018 bottom.
Otherwise it makes no sense for its all time low volatility being matched to the same level of the late 2018 bottom grind.

I could be wrong, but I think this is what's happening.
Meanwhile, the Alts just had a break and soon they will have another upward momentum.

What do you think?

Please give me a like or tick for this post.

Thanks.
S.Sari

Refer to BTC dominance chart for updates

16 juil. 2020

Note

Keeping track of the price action

17 juil. 2020

Note

Another way of looking at it, still looks more bullish than bearish

18 juil. 2020

Note

19 juil. 2020

Note

Ok. Now I'll introduce the min levels that are very important to give us a clue where it might go. Its really getting to that final moment. One thing that I noted was on the SP500 and SP500 futures. The futures dropped to close a gap and then bounced back up this past week. Also like BTC, the SP500 is hanging around just below the main resistance. Come Monday, we will know if both the SP500 is to break this resistance which will likely mirror BTC.

22 juil. 2020

Trade fermée: ordre d’arrêt atteint

Just finishing up on this post.
Monday proved to break the resistance and then retest the resistance for more new highs. Hence why BTC broke the same major resistance is my thoughts.