Possible trend reversal (from downtrend to uptrend) in 2016. Now upside volatility funnel has formed over last few years and is triggering.
This is on a week chart, which is colossally slow.
Time Stop: 23 May 2022
This is not advice.
Hunt Volatility Funnel (HVF) on 1 week chart.
Average true range generally decreasing over period under review. On balance volume generally increasing over same period.
Announcement coming up?
This is not advice of any kind.
Neckline is previous target of a Hunt Volatility Funnel. BTCUSD likely exhausted for now. Perhaps part 4 of 5 in Elliot Wave on day chart coming up then windup for 5th and longest run?
Not an exact head and shoulders (first shoulder highest), but ...
Volatility decreasing/squeezing for over a month. Symmetry looks good. Average true range at similar levels as just before previous major bout of volatility.
4.98 risk reward. Use proper position sizing!
Note that this is a fairly low liquidity coin.