Hello traders! I can see in the chats that people are panicking that the bears have taken over Bitcoin and we will have a crash to 20k, 10k, 5k, and so on. DO NOT LISTEN TO THOSE TRADERS. There is no need to panic because we are in a sideways symmetric triangle.
Price seems to have lower highs but also have higher lows. We can also see in the chart that the volume is slowly decreasing. This means that the trend range is compressing into a quiet sideways movement. Unlike the Alts(cryptos other than Bitcoin)which are going crazy in either direction, Bitcoin just seems... quiet.
The ATR, or Average True Range, which visualizes volatility, has been decreasing, suggesting that every candle is quieter than the last one.
But like a compressed spring being released, Bitcoin will definitely have a breakout... in either direction. The bulls or the bears will win. Let's wait for a breakout in any way. Good luck!
REMINDER: DO NOT PANIC! DO NOT LISTEN TO SPECULATORS! It will not help you in trading. We're supposed to make money, right?
Thanks for reading! Do not forget to like and follow for more insights. Also read my educational post, Why a small stop loss will hurt you. Cheers!
Price seems to have lower highs but also have higher lows. We can also see in the chart that the volume is slowly decreasing. This means that the trend range is compressing into a quiet sideways movement. Unlike the Alts(cryptos other than Bitcoin)which are going crazy in either direction, Bitcoin just seems... quiet.
The ATR, or Average True Range, which visualizes volatility, has been decreasing, suggesting that every candle is quieter than the last one.
But like a compressed spring being released, Bitcoin will definitely have a breakout... in either direction. The bulls or the bears will win. Let's wait for a breakout in any way. Good luck!
REMINDER: DO NOT PANIC! DO NOT LISTEN TO SPECULATORS! It will not help you in trading. We're supposed to make money, right?
Thanks for reading! Do not forget to like and follow for more insights. Also read my educational post, Why a small stop loss will hurt you. Cheers!
