Here's how BAKKT's launch will push BTC to 18K according to BB
It's been weeks since TAs are shouting out 18k promises for BTC yet it gets rejected at 12k-13k every goddamn time.
Well IMO a move to such higher prices in a brief time span won't be possible without either market manipulation or a huge fundamental news.
Here's how I see the scenario from Bollinger Bands' perspective.
I've drawn imaginary lines along BB bounds which I think will play out in the coming weeks. As it can be seen, weekly candles will most probably stay above the BB moving average until September 23rd (BAKKT launch date) with the BB pinch-off exactly happening at the same time.
The RSI is close to the oversold zone and it will probably touch the zone under %20 the coming weeks to change course upwards before 23 September.
So to sum it up, we got these three sings co-occurring on September 23rd(ish):
-BAKKT launch
-Bollinger Bands' pinch off
-RSI rising up
There's a good chance this is the one move to break 13.8k resistance.
Let's see how it plays out.
Well IMO a move to such higher prices in a brief time span won't be possible without either market manipulation or a huge fundamental news.
Here's how I see the scenario from Bollinger Bands' perspective.
I've drawn imaginary lines along BB bounds which I think will play out in the coming weeks. As it can be seen, weekly candles will most probably stay above the BB moving average until September 23rd (BAKKT launch date) with the BB pinch-off exactly happening at the same time.
The RSI is close to the oversold zone and it will probably touch the zone under %20 the coming weeks to change course upwards before 23 September.
So to sum it up, we got these three sings co-occurring on September 23rd(ish):
-BAKKT launch
-Bollinger Bands' pinch off
-RSI rising up
There's a good chance this is the one move to break 13.8k resistance.
Let's see how it plays out.
Order cancelled:
Too soon for a pinch-off to happen. Probably needs two or three more months and some sideways action.