Will Bitcoin follow its recent pattern -- chop for a few weeks, touch the EMA9 at around 37.5k on the weekly -- before exploding up to $60k+?
Volume has been divergent on this recent uptrend, despite huge squeeze Momo & huge corporate news w/ Tesla. Anchored VWAP on the last move up after a chop would match this shake out.
Volatility has been rising, too, since...
Been getting tighter on Anchored VWAP, squeeze momentum. Coiling since the new year, while TWTR and PINS are flying. Measured move would move $60+ dollars.
I'm new to this, but testing out some theories.
Hot SaaS stocks cooled down last week after earnings -- even strong postings like $DDOG crashed. $CRWD's four hour candle needs to backtest and re-enter channel and nullify a possible H&S pattern, but risks dropping and filling Memorial Day gap around $87-88 where it will find strong volume support. If it re-enters...
BULL CASE
Channel support looms.
Big volatility down trend (RVX) - possible support of 29 in RVX from March breakout.
If uptrend from 7/31 in channel continues:
166 would be fill of Feb gap down.
ATH's come next at 171.
Multi-week, channel upside goes to 185.
BEAR CASE
Bearish divergence on RSI, riding up on down volume.
Multiple support...
