BTC - Volatility Incoming
BTCUSD approaching the end of three week pattern, bands squeezing, volume at its lowest in the pattern - implying volatility ahead with breakout; but near term indecision ahead of today's FOMC meeting minutes and ECB's report on Euro financial stability.
From a pattern perspective you can see a possible ascending triangle, but know knowing how whales drive markets, I could see a swing low into the upper 20k range to soak up some liquidity and wreck early longers before a potential move to the upside to say mid 30k range. But I think the direction will largely depend on how the FOMC minutes and ECB reports look this week.
From a pattern perspective you can see a possible ascending triangle, but know knowing how whales drive markets, I could see a swing low into the upper 20k range to soak up some liquidity and wreck early longers before a potential move to the upside to say mid 30k range. But I think the direction will largely depend on how the FOMC minutes and ECB reports look this week.
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