ETHUSD Bollinger Squeeze on the Monthly Chart Fast Approaching
Before we begin publishing charts with BUY / SELL signals from the Sparkster Backtester and Signal Tool next week, here's another long-range view of Ethereum, signifying the start of a new bull run.
Here we see the very wide Bollinger Bands getting closer together since previous ATH on the monthly time-frame. At present, the bands are not nearly as tight as the few weeks before the 2017 bull run began — but we're getting closer.
We project a Bollinger squeeze to occur as price consolidates around the next key resistance level (the first red horizontal shown).
Once that level is broken to the upside we expect strong volatility to appear in the bands as price action turns towards the higher resistance level target in the months ahead.
As the crypto market heats up, we'll publish BUY and SELL signal arrows on 4 hour and 1 day time-frames, starting in the week ahead.
Here we see the very wide Bollinger Bands getting closer together since previous ATH on the monthly time-frame. At present, the bands are not nearly as tight as the few weeks before the 2017 bull run began — but we're getting closer.
We project a Bollinger squeeze to occur as price consolidates around the next key resistance level (the first red horizontal shown).
Once that level is broken to the upside we expect strong volatility to appear in the bands as price action turns towards the higher resistance level target in the months ahead.
As the crypto market heats up, we'll publish BUY and SELL signal arrows on 4 hour and 1 day time-frames, starting in the week ahead.
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MACD also supports the view of an upwards price movement. A monthly MACD cross-over above the 0 level is a strong indication for continued upside momentum.
Bình luận:
The MACD line has moved closer to the 0 level. Also the Bollinger Band is narrowing which means a volatility breakout should be expected, with the price action moving in the direction of the breakout. Momentum is up.
