The Bitcoin Volatility Index has broken bearish and looks to be confirming. This indicator in the past has been a bullish to neutral signal for bitcoin in the past as the asset tends to do much better and show more stability when there is less hype and speculation in the market.
It should also be noted that in the past as the BVOL fell, bitcoin was either...
Imagine expecting a $2000 move out of this
So unless you are calling for 3K, fuck off with your downside targets, it's going to 16-17.5K.
(and if you are calling for 3K, go find another job cuz u clearly suck at this one)
**also my bad: it happens every year or so, not every few years.
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.