NewMexCapital

Place your bets gents because BTC is preparing for a huge move

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar

BTC is preparing for a big move, probably 50%, it could be even more if it chooses to go up. If you look at the volatility chart you will notice that every time volatility was so low on the 3d chart BTC made a move of at least 42% and in a few days BTC will have to choose a direction because we are getting very close to the apex of the small triangle and the break from the small triangle should be strong enough to cause the break from the big one. On the upside there is a lot of resistance, we have to break all of the 0.65s that sent us down and the SMA200 which is at the resistance of the big descending triangle . Things are about to get very interesting. We favor the the break to the downside but we are also prepared for the scenario in which it breaks to the upside.

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