The squeeze indicator combines and to identify when the market is ready to move in a directional manner. Combined with momentum (shown at the bottom), we can get a good idea of which way the trade will move.
In this case, the squeeze triggered when the yellow moved inside of the blue . Momentum is trending upwards, so I'm expecting BTC to move to the upside.
The last daily squeeze that triggered long was the long run from 440 to 680.