FieryTrading

🔥 Bitcoin Copying 2018: Low Volatility Into Huge Drop

Short
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
I've been looking a lot at the ending stage of the previous bear market. Personally, I find that there's a very good case to be made that BTC will see another huge drop coming in the next couple of weeks because the current price movements are very closely resembling 2018. As seen on the chart, 2022 is around 2 weeks ahead when compared to 2018.

1: a July pump, leading to an August sell-off.
2: September pump, which is sold-off very quickly.
And at last, BTC has been trading within a very tight range of around 10% after the September sell-off.

As mentioned in my volatility analysis at the bottom, low volatility (compression) generally leads to high volatility (expansion). It's very likely that Bitcoin will see a strong move in the coming weeks. Since we're so closely trading to 2018 & the macro is still terrible, I'm betting that BTC will see a massive drop.


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