8
TWby u/thomas.wilson·1moAnalysis

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 · 8 points

3 Comments

AJu/arthit_j·1mo

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.

0
FEu/fengliu·1mo

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.

21
WSu/watchara_s·1mo

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.

0

More like this