Like all bollie squeezes it can go either way, but the signs are more bullish than bearish so far.
Noted 3 things from today's candle:
Price broke and closed above a small 7-day consolidation period on the highest volume
The 2 dojis in the last 2 days were indecision candles, followed by today's green bar is positive
Price closed above mid-bollie after 2 attempts (wicked past but not closed) in the last 5 days
I was hoping it would retrace into the 0.5 fib zone before going into an elliott wave 3 but the 0.382 held.
Next few days should see it test top bollie 10.5 or re-test previous high 11.5, but as mentioned anything could happen really.
VWAP was 8.9 today (range 8.1 - 9.4), heavy buying towards the upper end. Interestingly broker data shows mostly retail buying since the 11.5c high on 10/10:
Cheers and good luck to all holders.
Hez
BIT Price at posting:
9.4¢ Sentiment: Hold Disclosure: Held
