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Bitcoin - This Chart is Giving the Bears a Reason to Droll!

BITMEX:BVOL   Bitcoin Historical Volatility Index
Bitcoin gained +35% in the past 9 days, its best performance since early this February.

At this point, most technical indicators have breached into overbought territories especially in the higher time-frames. Bitcoin may be just about out of rocket fuel for now.

As a trader, I'm always looking out for conditions that can cause a change of trend ahead of time.
To most people, right now the seas seem calm, the skies look clear, and it might even appear as if we should blast straight through 10k or beyond in the coming days.
I do not want bitcoin to go down, however, I can feel a storm brewing and think BTC will see some rough seas ahead.

Check out this current setup in the plot of volatility versus Bollinger bands ...
Volatility has fallen outside the bottom band, indicating a very extreme condition. This likely means investors have become complacent and comfortable in their positions, perhaps a little bit too comfortable.

This will likely trigger a broad market sell signal once the indicator comes back within its bands.

Always adapt, be realistic with yourself, control your emotions, and prepare for condition changes ahead of time. It looks like there could be some choppy waters ahead so please be careful!



**Any content of this published idea should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to confirm and decide which trades to make.
Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
Past results are no indication of future performance.
In no event should the content of this correspondence be construed as an express or implied promise or guarantee.


Good luck :)
Nice one, thx. :)
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