$BTC NEAR TERM BULLISH VOLATILITY ANALYSIS
BTC:1D
I'm using the standard (non-log) chart setting for display purposes. A bounce back to the VWAP off highest high (69.2K) with a possible 'wick ' over the line appears to be highly probable but not necessary. A 'close' over highest high VWAP would not invalidate my thesis but would require a fairly expedient price drop, within a few bars, for thesis validity to remain intact.
After an a upward move in price to the highest high VWAP, mean reversion points to a dip down to the linear mean at 58.6K price region based on relatively significant price to RSI divergence on the 1D time frame and before another move to the upside where significantly higher highs could be achieved, such as those outlined directly below.
To the upside, I like the space between the 123.6%(85.3K) and 115%(81.1K) price levels before upside momentum in price could begin to wane. Volume flows as measured by the OBV Oscillator (bottom indicator) remain constructive as of the time of writing this article.
Reaching these upside price levels assumes a dip to the linear mean price region (58.6K) occurs before the rise to the space between123.6%(85.3K) and 115%(81.1K). Market physics would apply in this thesis and I would expect the price volatility in
BTC to resolve itself higher between the aforementioned fib levels of 123.6%(85.3K) and 115%(81.1K) at some point over the course of the next few weeks.
Not financial advice. Any one stock or cryptocurrency can go to zero.
I'm using the standard (non-log) chart setting for display purposes. A bounce back to the VWAP off highest high (69.2K) with a possible 'wick ' over the line appears to be highly probable but not necessary. A 'close' over highest high VWAP would not invalidate my thesis but would require a fairly expedient price drop, within a few bars, for thesis validity to remain intact.
After an a upward move in price to the highest high VWAP, mean reversion points to a dip down to the linear mean at 58.6K price region based on relatively significant price to RSI divergence on the 1D time frame and before another move to the upside where significantly higher highs could be achieved, such as those outlined directly below.
To the upside, I like the space between the 123.6%(85.3K) and 115%(81.1K) price levels before upside momentum in price could begin to wane. Volume flows as measured by the OBV Oscillator (bottom indicator) remain constructive as of the time of writing this article.
Reaching these upside price levels assumes a dip to the linear mean price region (58.6K) occurs before the rise to the space between123.6%(85.3K) and 115%(81.1K). Market physics would apply in this thesis and I would expect the price volatility in
BTC to resolve itself higher between the aforementioned fib levels of 123.6%(85.3K) and 115%(81.1K) at some point over the course of the next few weeks. Not financial advice. Any one stock or cryptocurrency can go to zero.
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