On the top of my chart you can see an indicator my good friend Heffae wrote up called HVQ.
this is a volatility indicator
you can see on this indicator that on the monthly time frame BTC might be putting in a descending volatility trend.
This touch we're making on the descending trend this month could signal a major bottom.
In order for this to be valid Bitcoin must continue to pump into the monthly close bringing monthly volatility within that trend and from there I'd assume next month will be a green candle and from there I'd say...take profit around 48 and then look for a dip to buy.
This trade idea is invalidated if we do not pump into the monthly close and the HVQ closes outside of this descending trend where it currently lies.....
Technically based on weekly volatility bitcoin is still in a bear market. This is a reversal play.
this is a volatility indicator
you can see on this indicator that on the monthly time frame BTC might be putting in a descending volatility trend.
This touch we're making on the descending trend this month could signal a major bottom.
In order for this to be valid Bitcoin must continue to pump into the monthly close bringing monthly volatility within that trend and from there I'd assume next month will be a green candle and from there I'd say...take profit around 48 and then look for a dip to buy.
This trade idea is invalidated if we do not pump into the monthly close and the HVQ closes outside of this descending trend where it currently lies.....
Technically based on weekly volatility bitcoin is still in a bear market. This is a reversal play.