Trend Analysis based off prior weekly candles BTC
The past three weekly candles have shown an unprecedented amount of stability. Weekly open and closes have all been within roughly 1.2% of each other. Some may say that such indecision suggests a reversal is on the horizon but I would like to take another look. Here is the BTC all time price history and I highlighted a few examples of prior 3-weekly candle patterns that are very similar to now. The main characteristic of all highlighted candles is an extremely, almost doji-like body. What you'll notice is that after every 3-week period of such low volatility there is an extremely violent move on the fourth week.
The explosive moves vary in direction; however, when taking another look you will notice that the volatility always continues in the trend of the overall market.
What I am suggesting is that after this weekly close (if the current candle closes within the range) we will see volatility return to the market. I believe the price will see a dramatic increase over the next week; however I would not rule out a fake out to the downside before continuing higher.
The explosive moves vary in direction; however, when taking another look you will notice that the volatility always continues in the trend of the overall market.
What I am suggesting is that after this weekly close (if the current candle closes within the range) we will see volatility return to the market. I believe the price will see a dramatic increase over the next week; however I would not rule out a fake out to the downside before continuing higher.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.