In the 6h and 12h time frames, the Bollinger bands are very tight, also PSAR flip may happen very soon.
So a move can be expected very soon, with a bearish bias IMO (12h PSAR may flip to bearish), although the local EW structure looks a bit bullish.
It is very annoying that coinsight is down... In such times of decision, the bid / ask ratio could help predict the outcome...
So a move can be expected very soon, with a bearish bias IMO (12h PSAR may flip to bearish), although the local EW structure looks a bit bullish.
It is very annoying that coinsight is down... In such times of decision, the bid / ask ratio could help predict the outcome...
Call me ignoramus, but I am having some difficulties understanding any proposition that "something has to happen" in terms of BTC price moving either UP or DOWN. Why can't bitcoin price stay sideways for another 6 months or longer?
Why does up or down price movement "have to be imminent" based on current tightening of BTC's price range?
Seems to me that a more accurate statement would be something like:
"Based on analysis of historical price trends, odds are 70% that either an UP or DOWN movement will happen in the next 3 weeks, and if such UP or DOWN movement does not happen in the next 3 weeks then odds are 75% that either an UP or DOWN movement will happen in the next 6 weeks, and if such UP or DOWN movement does not happen in the next 6 weeks then odds are 80% that either an UP or DOWN movement will happen in the next 12 weeks, etc etc etc... "
Just seems a bit presumptuous to be asserting that BTC UP or DOWN has to happen "soon"TM.