Post
Topic
Board Speculation
Re: Bollinger: "BTCUSD is in a BB Squeeze, Awaiting confirmation of a move higher."
by
1Referee
on 15/09/2019, 22:02:59 UTC
Ultimately I still see room down to the $7K area, where this orange 20-month EMA is. I would be pretty surprised to break below the June monthly pivot at $7,432 (Bitstamp) though:
Just as surprising as we broke through the $6000 level effortlessly? I'm open to the idea of a few stormy weeks below $6000 in the "worst case scenario".

More likely, we'll just retest the low $9,000s one more time like you said. I have a feeling we still need to shake the trees but that's probably it.
Another test? How many horizontal support tests does one need? Cheesy The more often we test the lower $9000's the more likely it is that it breaks. I don't see anything bullish in yet another test because all it does is expose how the bears dominate the trend.

I'm confident that the actual 'tree shake' will be more brutal than people here think it will be.