A few days ago, Bitcoin once again went up to 9,200 dollars resistance. Instead of getting rejected, it continued its move up and seemingly reclaimed that 9,400 dollars level.
However, those are small moves. There’s not a lot of volatility and Bitcoin almost looks a bit boring. This reminds me about the sideways trading in late 2018, just before BTC dumped down to 3,000 dollars. Right after that, Bitcoin entered another sideways trading range between 3,000 and 4,000 dollars. Instead of getting bored, I kept an eye on it and was able to trade both the dump down to 3,000 dollars and the pump back up.
And even now, Bitcoin looks much more interesting once we zoom in. It entered a clear down trend on the 1st of June and each interaction with that trend line resulted in a massive drop – and BTC just broke out of that down trend while also breaking above the red ichimoku cloud on the 4h. With volatility also increasing in the global markets (Gold, Tesla), this could be an early sign of incoming volatility, especially if BTC manages to break above the important resistance around 9,700 dollars.
While it might take some time until volatility hits BTC, I discovered a great chance to profit off the altcoin market. Such a big opportunity doesn’t present itself all too often. VIPs have already received all the details: What I’m trading and how exactly I’m trading it.