Bitcoin (BTC): Bullish Pattern on Extremely Low Volatility
In the previous idea we were looking for safe buy opportunities. The breakout long trigger had been attached to the trendline, and the price broke it @ 8200. Then it took some time for a classic bottoming pattern to emerge (H&S). This breakout trade was best exploited in TRON:
Currently, the standard H&S target is 9018. Short-term trend is now 'Sideways' and is quite in terms of volatility. In fact, it is extremely quite (squeezed), because the average volatility now is even lower than on May 3 - just before sharp price moves occured. We should now be prepared for similar price action.
Commento:
The Ripple trade:
Commento:
The Ethereum chart is growing bearish too:
Given the formation of bearish Triangles in ETH and RIpple (chart is under way), we may see yet another sell-off here. For me 8200 is the invalidation level for this bullish scenario.