4 minutes reading from Bitcoin

Global Volatility Meetup: Rates Meet Resistance

What happens when volatility meets resistance in the cryptomarket?

We can often see sideways movement for an extended period until volatility finally wins out

Today's BTC

Range Report tells a tale of volatility meeting resistance

Let's dive into the analysis...


GNY's predictive BTC


is forecasting an upper price band of approx 19750 for the next 7 days

Note this consistency

Our MachineLearning

model appears to have acclimatized to the lows we are experiencing & this area seems to be signalling strong resistance


Consistent fear in the media & rolling insolvency news has considerable downward pressure on BTC & other cryptocurrency prices

Any potential upward volatility spikes are battling this


GNY's unique Parabolic SAR Chart has shown a 3rd successive dot printed from above the BTC

price to below the price

This is Bullish signal hinting at a market reversal

However any upward volatility is meeting strong downward resistance driven by negative sentiment


Our unique 90-day Hikkake chart (published daily) has shown another unconfirmed Bullish indicator

We may be falling just short of a confirmed one due to the negative sentiment in the BTC

market once again


Daily RSI is currently sitting at 36, up 1 point from yesterday & 3 from the day before that

An RSI reading at 30 or below signals BTC

is underpriced in the timeframe

Again negative market news seems to be having a dampening effect on a trend reversal to the upside


Today's BTC

Range Report from GNY is free for you to view in full here:

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Range Report - GNY
This post is based on this twitter thread.


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