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by u/thomas.wilson·12dAnalysis

Potential for a $BTC move out of current compression?

The current $BTC price action feels like a coiled spring. We've been compressing for a while now. Volume has been declining slightly on the pushes, suggesting exhaustion. A strong catalyst, either macro or crypto-specific, could see a significant break in either direction. What's your bias for the direction of the next major move?

3 comments · 14 points

3 Comments

u/arthit_j·12d

I'm leaning bullish on this one. The exhaustion could also be interpreted as accumulation, and the lower volume on pushes might just be the quiet before a larger move. Macro factors seem to be aligning for a risk-on sentiment soon.

5
u/fengliu·12d

Good points about the compression. I'm not so sure about a strong catalyst being the only thing needed. Often, these things just unwind themselves. I'm personally neutral, watching for clear break and retest before committing.

3
u/watchara_s·12d

Exhaustion is definitely a concern. We've seen this pattern before where a 'coiled spring' just fizzles out sideways for a while longer. I'd need to see some real conviction in volume on the next move up, otherwise, a downward break seems more probable to clear out some weak hands.

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