Bitcoin Volatility Squeeze Indicates Downward Price Action Iminent

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BTC/USD has been trading in an increasingly tight band recently. Notably, support at $85 has been repeatedly tested while upper bounds continue to deflate. The descending triangle pattern would generally indicate a large move is imminent, in this case pointing towards the downside. We wouldn’t be surprised to see a drop equivalent to the size of the triangle in the $25-40 range from the current $95 exchange rate, particularly if the $85 lower bound is breached.

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About the author  ⁄ Jonathan Stacke

8 Comments

  • Reply
    goodjob
    April 15, 2013

    You called it, well ahead of time. And saved me some money (I sold an hour before the current correction began)

    Now let’s see what the new bottom will be.

    • Reply
      Jonathan Stacke Author
      April 15, 2013

      Happy to be of service.

  • Reply
    Peterp4nda
    April 16, 2013

    Please set up a mailing list I’d like to subscribe :)

    • Reply
      Jonathan Stacke Author
      April 16, 2013

      We will look into setting that up. In the mean time, I recommend following us on Twitter – all updates are currently posted there. Cheers.

  • Reply
    Wayne
    April 16, 2013

    Nice job.

    • Reply
      Jonathan Stacke Author
      April 16, 2013

      Thank you, kind sir.

  • Reply
    Anthony
    April 19, 2013

    Correction reversed, it’s about to break 120.

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