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Where is BTC heading now?
🕑 Added 2021-08-30 12:30:30 +0000 UTCThe longer we take to break above 50K the higher the likelihood that we pull back before we can actually break out to higher prices.
Be careful with which riskier bots you are running and how much funds you have assigned to them as the pull back can cause some tougher red bags if it actually happens.
Volatility has decreased, we have been in the same channel now for days which as we know calls out for a big movement.
ORC yesterday sent another SELL signal, which is another red alert for us to consider.
Consider reducing funds used and re enter once we either pass 51K or drop to next lower support if we end up pulling back. It's not a great time to start risky bots for conservatives or beginners as the expected upcoming shakiness will certainly upset some bots.
You can also consider leaving some grid bots or martyn bots to chase the opportunity of catching alts at potential discounts. Remember whenever BTC pulls back, alts can pull back even 3X what BTC does.
The pullback is not guaranteed but it's becoming more likely with each day we are not able to break above 50K.
Bollinger bands width
In the chart we can see how Bollinger bands width can help us forecast big movements on BTC. Breakouts and pull backs very often come after the volatility drops significantly.
As you can see in May the volatility dropped and it turned out to be a downside massive move whereas in August it was to the upside. If we applied a similar pattern this would be indicating that the next large move is about to happen somewhere between the next days to the first week of September.
