Bitcoin heading to a big breakout of $4050 and beyond!
Hi guys we looking at the 4 hr chart
The orange Bollinger Bands with the crosses on the edge of them are price spread at 2 Standard Deviation away for the 55 days. The green Bollinger Bands with the green thick line are prices at 2 Standard Deviation for the 21 days.
Standard Deviation measures price spread over time – the volatility of prices.
Upper bands represent prices at +2 Standard Deviation away / higher volatility and bottom of the bands represent prices at -2 Standard Deviation away / lower volatility.
Currently we can see prices moving back above the 8 EMA orange line and a sign we gaining bullish momentum again. It did drop from the last 4 previous candles (16 hours again) below the 8 EMA orange line but now it's heading to bullish breakout as approaches above the 8 EMA
We can see from the Bollinger Bands prices that for the previous 2 to 3 days, the 21 day Bollinger Bands is engulfing the 55 day Bollinger Bands to the upside. It simply means the 21 day prices are moving at a faster volatility to the upside then the 55 day price spreads. This is showing it moving more to the upside then the downside and that’s a very good thing.
The Stochastic RSI look quite at the top and looks like it losing momentum but the unexpected breakout from $3960+ as it is bullish would make the RSI loop more to the upsides above the 90 level for perhaps a long FOMO breakout. It's bullish for now and great time to buy
There was previous resistance from the higher highs around the $3960 but this current price shows it has a greater chance to break through it to $4050. If correct it has broken the upper black trend line from the daily pennant chart and means we are very bullish from the daily side as well.
This can create FOMO of prices from $4050 to $4800 or maybe more
The orange Bollinger Bands with the crosses on the edge of them are price spread at 2 Standard Deviation away for the 55 days. The green Bollinger Bands with the green thick line are prices at 2 Standard Deviation for the 21 days.
Standard Deviation measures price spread over time – the volatility of prices.
Upper bands represent prices at +2 Standard Deviation away / higher volatility and bottom of the bands represent prices at -2 Standard Deviation away / lower volatility.
Currently we can see prices moving back above the 8 EMA orange line and a sign we gaining bullish momentum again. It did drop from the last 4 previous candles (16 hours again) below the 8 EMA orange line but now it's heading to bullish breakout as approaches above the 8 EMA
We can see from the Bollinger Bands prices that for the previous 2 to 3 days, the 21 day Bollinger Bands is engulfing the 55 day Bollinger Bands to the upside. It simply means the 21 day prices are moving at a faster volatility to the upside then the 55 day price spreads. This is showing it moving more to the upside then the downside and that’s a very good thing.
The Stochastic RSI look quite at the top and looks like it losing momentum but the unexpected breakout from $3960+ as it is bullish would make the RSI loop more to the upsides above the 90 level for perhaps a long FOMO breakout. It's bullish for now and great time to buy
There was previous resistance from the higher highs around the $3960 but this current price shows it has a greater chance to break through it to $4050. If correct it has broken the upper black trend line from the daily pennant chart and means we are very bullish from the daily side as well.
This can create FOMO of prices from $4050 to $4800 or maybe more