Bitcoin is experiencing a strong squeeze on volatility: is an uptrend imminent?
As can be seen visually in the graph, Bitcoin gains have decreased significantly. There was a crazy volatility squeeze!
This week the asset followed the rules of technical analysis extremely precisely: It touched the $25,480 support identified in the previous analysis and then reached $26,600., which is exactly the upper diagonal. The correlation with the S&P 500 remains very high, as can be seen in the chart: The “0 zone”, which indicates absolute uncorrelation, is little explored.
Strength of current trend
The strength of the trend is measured by a score ranging from -20 to +20; If the score is between -5 and +5, no trend can be detected. The strength of the trend is decreasing compared to last week:
- Previous week: -6
- Current week: -10
Supports:
Aim:
In the above chart we used a point analysis methodology based on linear regression lines. In this video I will explain what happened.
POC volumetric analysis
Point of Control or POC (Point of Control) indicates the price line with maximum volume: thus, it indicates the level at which the market considers the fair value or true value of an asset in the period under consideration. Bitcoin POC is currently positioned at $25,913almost unchanged from last week and the week before that.
Seasonality analysis
The graph seems to come true: We may see BTC recovery soon.
I remember that the seasonality indicator determines movements and direction, not size. This is a I have indicator, is available free of charge to anyone who wishes to download and install it on TradingView. All my analysis is performed with software provided by TradingView.
Mirko Castignani He is a trader, entrepreneur and financial educator. As a teacher since 2017, he has collaborated with trading companies of the caliber of Avatrade, WeBank and SaxoBank, Directa SIM, iBroker. He is also a member of SIAT and AIEF, as well as being a guest on American financial markets on CNBC.
He founded it together with Andrea Vaturi in 2013. Unfair Advantage: Financial education company currently collaborating with leading Italian credit institutions and Spanish brokers. Today he is also part of the board of directors of ANPIB, the National Association of Private and Investment Bankers.
He regularly posts market updates on his own account telegram channel. He also comments on the markets live from his own account every day at 15.30 (at the opening of Wall Street). Youtube channel. Class is broadcast live every Tuesday at 2.20pm on CNBC, Sky channel 507.
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading transaction involves risk, so you should do your own research before making a decision.
