Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
John Bollinger tweeted about the first lift after the BBands squeeze on BTC/USD yesterday. You can see it on the 4 hour Bitstamp chart:
Slight pull back today but still a bullish bias IMO. Slight, but it is there and significant. We need to see follow through with prices starting to walk the upper BBand again and take out $9480, and IMO this needs to happen within a week or we face more than just continued sideways consolidation. We could test $9000 again and if that level does not hold the next significant support level is ~ $7700.
Slight pull back today but still a bullish bias IMO. Slight, but it is there and significant. We need to see follow through with prices starting to walk the upper BBand again and take out $9480, and IMO this needs to happen within a week or we face more than just continued sideways consolidation. We could test $9000 again and if that level does not hold the next significant support level is ~ $7700.
Didn't bollinger himself point out that to a good degree btc does seek to touch the lower band if it broke up through the upper one?
I see this repeating quite often in my charts if i enable BB.