Bitcoin is outperforming the FUD over the Van Eck cancellation. As I said, this was largely already priced into the market.
The Fisher showed Bearish Divergence, yet we didn’t fall hard. Price has been contracting in a very tight range for almost two weeks now, Average True Range is falling very, very low.
We know what happens after periods of low volatility….high volatility. We’re coming up on the weekend, where we expect sluggish yet overall bullish price movement. I’m considering putting on a small long in this area as it seems the most reasonable move to take, however I’m not going to trade my opinion.
There are no clear signs to be going either long or short at this moment, the market really could move in either direction. Anyone who claims that they know is being dishonest.
There will be plenty of juicy volatility once we break out of this stalling price action, so just relax and wait for the opportunity play. smiley