Bitcoin brewing major movement as volatility subdued to extreme
Hi, guys. Welcome to a new week.
Price sideways around $7500 over the weekend, another boring week of whipsawing. But the situation won't last forever like this.
Volatility indicator, as demonstrated via ATR(14), is hitting a new low in 4-hour chart. In the meantime, price movement over the last two weeks has formed a triangle, and now it is compressed to the end of the triangle, which means the bitcoin price must decide its direction soon.
pivot point: 7500
horizontal support 1: 7250
horizontal support 2: 6750
Expected to have a surge or slump this week. Good luck and happy trading.
Price sideways around $7500 over the weekend, another boring week of whipsawing. But the situation won't last forever like this.
Volatility indicator, as demonstrated via ATR(14), is hitting a new low in 4-hour chart. In the meantime, price movement over the last two weeks has formed a triangle, and now it is compressed to the end of the triangle, which means the bitcoin price must decide its direction soon.
pivot point: 7500
horizontal support 1: 7250
horizontal support 2: 6750
Expected to have a surge or slump this week. Good luck and happy trading.
