SUB/BTC
recently broke from a wedge reversal. When the candles started moving up, the Squeeze Momentum Indicator shows a sign of a squeeze in volatility noted by the black crosses on the median line. Circled on both the chart and indicator.
Currently we are pushing against the 6100 sat resistance line I had noted in my previous analysis with a nice full body candle. This is poking it's head above the blue 25MA. If this successfully moves above the MA. We will battle against the 50MA in orange here. Mixed with the signs in the Squeeze Momentum Indicator. We could see a positive MA crossover soon.
The Squeeze Momentum Indicator is showing signs of a volatility squeeze (Bollinger Bands within the Keltner channel) with a high likelihood of positive movement. I will update shortly with confirmation of a volatility increase if this is the case. Negative or positive.
This, to me looks like a good sign we will be moving upward as long as
BTCUSD
doesn't break down to oblivion.
For information on how to read and understand the Squeeze Momentum Indicator. See my post HERE where I break down it's parts.
Currently we are pushing against the 6100 sat resistance line I had noted in my previous analysis with a nice full body candle. This is poking it's head above the blue 25MA. If this successfully moves above the MA. We will battle against the 50MA in orange here. Mixed with the signs in the Squeeze Momentum Indicator. We could see a positive MA crossover soon.
The Squeeze Momentum Indicator is showing signs of a volatility squeeze (Bollinger Bands within the Keltner channel) with a high likelihood of positive movement. I will update shortly with confirmation of a volatility increase if this is the case. Negative or positive.
This, to me looks like a good sign we will be moving upward as long as
BTCUSD
doesn't break down to oblivion. For information on how to read and understand the Squeeze Momentum Indicator. See my post HERE where I break down it's parts.
