Comparing market structure back in last BTC 0.03% bear market with current bear market. Same relation between volatility (Source: bollinger band width) and price development seem to panning out in the current bear market. If this replicates it means that:
- Bottom has formed (~6000)
- Volatility will continue to decrease for a few weeks
- Incoming bull trap
- Will revisit bottom after bull trap (~6000)
If this pans out we should see a new bull market in 120-168 days from now based on last bear market
- Bottom has formed (~6000)
- Volatility will continue to decrease for a few weeks
- Incoming bull trap
- Will revisit bottom after bull trap (~6000)
If this pans out we should see a new bull market in 120-168 days from now based on last bear market
Comment:
Six weeks later volatility has continued to drop to levels only seen 3 times in the last 3 years. Expecting increased volatility in November.