The BTCUSD is due to a major move soon. The pair has been consolidating to the downside for several months now and it has been significantly squeezing until now.
During the last few months, the pair formed Lower Highs and Higher Lows, hence forming a nice pattern that is about to be broken.
The Sentiment Index is squeezing which is a great indication that something big is about to happen.
The Breakout Pivotal Bars is negative (red candles) so a breakdown seems more likely but we need to wait and see the color of the breakout candle.
Either way the price will break, we are prepared and ready to profit from the move.
During the last few months, the pair formed Lower Highs and Higher Lows, hence forming a nice pattern that is about to be broken.
The Sentiment Index is squeezing which is a great indication that something big is about to happen.
The Breakout Pivotal Bars is negative (red candles) so a breakdown seems more likely but we need to wait and see the color of the breakout candle.
Either way the price will break, we are prepared and ready to profit from the move.
Comment:
The consolidation has widened in October and the setup is still there. In the meantime, with such a big range, there are plenty of opportunities on lower timeframes.
Comment:
Exactly as predicted. It's now trading in the low 4000 and it still has further downside potential.
Trade closed: target reached:
Closed shorts around 3290-3330
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