I dont think slimmer BB has to be bullish but I dont normally use them tbh or see them being used by people I watch.
Quote
Not been in a trend since June, I think the first example is more reliable and BB is most often a boundary play.
Topic: Bollinger: "BTCUSD is in a BB Squeeze, Awaiting confirmation of a move higher." - page 2. (Read 443 times)
September 15, 2019, 04:11:38 PM
Day of the bears growing weaker is not something I see on the chart, it seems to be a scenario where each rise is lesser then the last attempt. So the Bollinger bands are constricting and we are above the average so if people say we are bullish then fair enough but the range is constricted and there is less scope for any leveraged bet upwards to be justified in being placed. Traders want the large movements and if thats not there then we have less speculative money entering perhaps, its then going to fall on the fundamental money to back the price or not.
I dont think slimmer BB has to be bullish but I dont normally use them tbh or see them being used by people I watch.
Not been in a trend since June, I think the first example is more reliable and BB is most often a boundary play.
I dont think slimmer BB has to be bullish but I dont normally use them tbh or see them being used by people I watch.
Not been in a trend since June, I think the first example is more reliable and BB is most often a boundary play.
September 15, 2019, 03:21:56 PM
The way I understand Bollinger bands as an indicator is that the more narrower the bands get the higher probability it will go up. In this case if we follow the idea that it will go down back to the 9,000$ level I don't think we can consider that a squeeze if that happens BTC should at least be trading around the levels near the 10,000$ area a 10% difference on prices cannot be consider near. So if you expect that will be revisiting the 9,000$ area then we can expect that this breakout won't happen anytime soon.
September 15, 2019, 02:49:00 PM
If the price plunge low to $9000 again, I think this might just be the last we will see of that $9000 and we may have to take it as an opportunity for those who has been skeptical about making investment to make it right now before there is another surge that would make it impossible for them to buy again.
I always try to keep an open mind to prevent getting married to trading positions.
Ultimately I still see room down to the $7K area, where this orange 20-month EMA is. I would be pretty surprised to break below the June monthly pivot at $7,432 (Bitstamp) though:
More likely, we'll just retest the low $9,000s one more time like you said. I have a feeling we still need to shake the trees but that's probably it.
September 15, 2019, 11:15:46 AM
Without even using the chart, I know that the day of the bears is gradually getting over, I mean that the little bears that has been pulling the market down every time that we always head up for recovery ever since we saw that $13800. If the price plunge low to $9000 again, I think this might just be the last we will see of that $9000 and we may have to take it as an opportunity for those who has been skeptical about making investment to make it right now before there is another surge that would make it impossible for them to buy again.
The thing I just know is that there is possibility of bitcoin heading for $15000 before the end of the year and if that is going to be the case, then it is certain that the market will head for a bull run at early next year.
The thing I just know is that there is possibility of bitcoin heading for $15000 before the end of the year and if that is going to be the case, then it is certain that the market will head for a bull run at early next year.
September 14, 2019, 03:40:54 AM
I love when John Bollinger tells us to pay attention. It usually pays off. He's talking about the daily Bollinger bands:
You can see the current BB width here compared to the daily squeezes in April, May, and June (green arrows):
There's a couple other things on that chart to note. Shorts have risen considerably from the lows. Not quite as high as I'd like to see them but we're getting there. We might need a few more weeks of chopping to build up shorts and scare out longs.
Finally, the red arrow on the chart: be prepared for a head fake. Long sideways formations like triangles sometimes like to throw over in the opposite direction before breaking out. So we might see a plunge to the low $9Ks again before finally breaking upwards.
Quote
$BTCUSD is in a BB Squeeze as are many of the alts. Positive divergences are developing. Awaiting confirmation of a move higher.
You can see the current BB width here compared to the daily squeezes in April, May, and June (green arrows):
There's a couple other things on that chart to note. Shorts have risen considerably from the lows. Not quite as high as I'd like to see them but we're getting there. We might need a few more weeks of chopping to build up shorts and scare out longs.
Finally, the red arrow on the chart: be prepared for a head fake. Long sideways formations like triangles sometimes like to throw over in the opposite direction before breaking out. So we might see a plunge to the low $9Ks again before finally breaking upwards.
Jump to: