EmpiricalFX

BTCUSD DUMP - Move your BTC profits into Alts

Short
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
My volatility indicator "Squeeze Zone" just plotted a double weak zone on the 4H chart for BTCUSD .

The last time this happened, BTC dumped over 20%.

Seeing a massive rise in XRPUSD (over 40% as of 11/23) to me is a foreboding sign that people are taking BTC profits and diversifying into alt coins.
Comment: I'll be waiting for this zone to close and make a decision afterwards

Comments

Congrats on the correct call. Excellent analysis for ST trading.
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Thank you for this post and the heads up.
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