Bitcoins expansive Bollinger Bands suggest Bear Market is ending
TLDR
Every time the chart has looked like this bitcoin has had a powerful move to the upside. The easy bet is price will go to the upper limit of the monthly bollingerband before "deciding" if it wans to go higher.
Analysis
The Bollinger bands are a marvelous indicator that helps predict where price action can ranged based off of statistics depending on your lookback period and how many standard deviations you want to include. The default setting suggest that some 95% of price action on the time frame you are looking at will fall in the Bollinger band.
Depending on how price action moves the Bollinger Bands can channel up, channel down, expand or pinch. When the Bollinger bands pinch it is a sign that volatility is dropping. When they expand it is a sign that volatility is increasing. In the examples shown the expansion has predicted that bitcoin will move to the upside and really start to put some pressure on the top of the Bollinger band, moving it upward.
Right now we are just leaving the only time that bitcoin found support on the monthly Bollinger band. We have done so for many months and so far we are being rewarded with a sign of more upside movement.
The RSI and Log MACD suggest that we are at a relatively low and the easiest route is upward. Both have hidden bullish divergence as price has set a higher low but the indicators have set lower lows from the Covid 19 low.
Linked Ideas and my plan
My linked ideas have shown I have consistently been calling the bottom in this range for many months. I think it is still too soon for the top performers of the last bull run to have their time now but I do think some "OG" goings are going to shine, like XRP, Dash, Bch, and XMR and I will be positioning myself into those tokens shortly.
Every time the chart has looked like this bitcoin has had a powerful move to the upside. The easy bet is price will go to the upper limit of the monthly bollingerband before "deciding" if it wans to go higher.
Analysis
The Bollinger bands are a marvelous indicator that helps predict where price action can ranged based off of statistics depending on your lookback period and how many standard deviations you want to include. The default setting suggest that some 95% of price action on the time frame you are looking at will fall in the Bollinger band.
Depending on how price action moves the Bollinger Bands can channel up, channel down, expand or pinch. When the Bollinger bands pinch it is a sign that volatility is dropping. When they expand it is a sign that volatility is increasing. In the examples shown the expansion has predicted that bitcoin will move to the upside and really start to put some pressure on the top of the Bollinger band, moving it upward.
Right now we are just leaving the only time that bitcoin found support on the monthly Bollinger band. We have done so for many months and so far we are being rewarded with a sign of more upside movement.
The RSI and Log MACD suggest that we are at a relatively low and the easiest route is upward. Both have hidden bullish divergence as price has set a higher low but the indicators have set lower lows from the Covid 19 low.
Linked Ideas and my plan
My linked ideas have shown I have consistently been calling the bottom in this range for many months. I think it is still too soon for the top performers of the last bull run to have their time now but I do think some "OG" goings are going to shine, like XRP, Dash, Bch, and XMR and I will be positioning myself into those tokens shortly.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
