Bitcoin Price Stuck in Bollinger Bands Before High Volatility
Bolliger Bands narrowed on daily chart of Bitcoin price. It is the signal of high volatility. We can see high volatility after this narrowed Bollinger Bands. There is the result of interest rate of FED, It is so possible to see high volatility on crypto market.
Here you can see daily chart of Bitcoin. Even Bitcoin price broke up mini downtrend lines, It can not go up with high volatility. Bitcoin price is under the middle line of Bollinger Bands. It is supported by the bottom line of Bollinger Bands. We will see the decision on Bitcoin price to go up or go down.
Here you can see the indicators on daily chart of Bitcoin price. Fisher Indicator is going up slowly. If we see huge daily green daily it will get accelaration while going up. It is good level to increase accelaration.
But MACD Indicator is still in correction. If we see daily red candle, Fisher Indicator will try to reverse down. When we look at the indicators, we can see the position of decision.
There is also downtrend line on RSI Indicator which resist Bitcoin price. It should be broken up to enter new bullish trend.
So, it is the decision day of Bitcoin to go up or down. We may see high volatility on crypto market in this week.
We will see..
@chorock, excellent technical analysis! Your breakdown of the Bollinger Bands narrowing on the Bitcoin daily chart, combined with the Fisher and MACD indicator insights, paints a clear picture of the potential volatility brewing. The visual aids are super helpful in understanding your points. The way you've highlighted the downtrend resistance on the RSI is spot-on. This post really helps Steemians understand the crucial decision point Bitcoin is facing. Thanks for sharing your expertise! I am eagerly waiting to see how it unfolds this week. I will be following you for more helpful updates!