It's time for an update, friends! The price made a breakout to the downside. The candles are moving along the lower band of the Bollinger Bands. Remember that the Bollinger Bands are a volatility indicator. This is the first hint for a strong move. It's a great tool to spot possible breakouts. See my last idea (linked below) for an example.
The price made this leg down with low volume. It's very likely that more volume will follow as soon as we are near our important Support Zone (Red Box). Since the larger time-frames looking bearish too, we might have enough sellers to enter the market and take the price to our next Support Zone (Green Box) which is also our Buy-Zone in anticipation for a bounce. I'm expecting a very strong move in the next hours.
This is NOT a good moment to take a position. Wait for the market to show clear signals. I will update this chart accordingly!
THANKS! For all the positive feedback im receiving lately. Leave a thumbs up if you like this idea and Follow me for more updates!
Disclaimer: Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only
Mind explaining what you are signaling in the ADX and DI indicator?
LeeAndKim
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good job. I'm curious about the usage of adx indicator and BB. Can you clarify what does the 'volatiliy of BB' mean by, and the meaning of adx line goes up?
AltonEast
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Good job, thanks for sharing
ARESABI
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@AltonEast, always a pleasure buddy! thanks for your comment
gierach1974
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Hello Cryptobuller, do You think your idea is still valid? Will BTC go down?
Mind explaining what you are signaling in the ADX and DI indicator?