Impending Volatility

Bitcoin has poked it's head above $71k, at a time when the spring is unbelievably coiled, and the US election just over the horizon. The underwater beach-ball is coming up for air.

G’day Folks,

We’re likely on the cusp of some madness, and some wild volatility. The Bitcoin spring has coiled up for more than 7-months, and the weekly Bollinger Bands are as tight as they have ever been. Price has broken above $71k at the time of writing, starting the next leg higher.

Given Bitcoin’s tremendous looking monthly price chart, I would be shocked if this thing releases that spring to the downside.

Live Chart

Now with this said, I believe everyone is going to need seat-belts for the next few weeks. As noisy and annoying as it has been, the US election is looming, and the number of potential unknowns which may emerge into November, should not be underestimated.

Bitcoin is tightly wound, ready to move, and coiled up…right on the cusp of a significant market moving event, with extraordinary potential to throw sand in the gears of bulls and bears alike.

In this post, I want to cover market structure from a few vantage points, ranging from macro, to the ETFs, and into the Options markets, aiming to see how the Bitcoin market is positioned heading into a volatile couple of weeks.

The calm before the storm, as they say.

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📈 Reminder: you can find the charts from our articles on the Checkonchain Charting Website, and a guide in our Charts Tutorial Video.

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