Please note that the following is my opinion and not financial advice.
The headline says it all. Please trade safely this week as the #Bollinger bands (one of my favourite technical indicators) shows a definite"squeeze" on the 4 hour chart! While we all want Bitcoin trading in a pumping #BullMarket (ie. more BTC being bought than sold) it is still very likely that a correction is going to occur.
https://school.stockcharts.com/doku.php?id=trading_strategies:bollinger_band_squeeze
As a long term Bitcoin holder the current price of bitcoin matters little to me. In fact I need the BTC price to drop in order to buy in on new #investment opportunities such as #altcoins #NFTs and #ICOs. When the Bitcoin price drop, MANY #blockchain based economies follow suite, and this is the perfect time to buy in.
Please follow if you enjoyed this Analysis. I try to keep it short and sweet but if people want more technical indicators I can provide those too! I am a self taught trader so any advice or feedback (comment below) is welcome.
THE END
My Previous Bitcoin Analysis can be found here:
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