{"id":14860,"date":"2019-09-23T08:17:09","date_gmt":"2019-09-23T12:17:09","guid":{"rendered":"https:\/\/www.jeffclarktrader.com\/?p=14860"},"modified":"2019-09-23T08:17:09","modified_gmt":"2019-09-23T12:17:09","slug":"bitcoin-is-ready-to-explode","status":"publish","type":"post","link":"https:\/\/jeffclarktrader.com\/market-minute\/bitcoin-is-ready-to-explode\/","title":{"rendered":"Bitcoin Is Ready to Explode"},"content":{"rendered":"

It’s been about one month since we last looked at the King of Cryptocurrencies<\/a>. Back then, we took a look at the chart, noticed a potentially bearish pattern, and figured the next big move for bitcoin would be to the downside.<\/p>\n

So far… not much has happened. Bitcoin was at $10,325 per coin on August 28. At writing, it’s at $10,065.<\/p>\n

Yes, the price has fallen. But it’s hardly been a “big move.”<\/p>\n

However, energy is building. And now, bitcoin is on the verge of a HUGE move.<\/p>\n

Here’s the chart of bitcoin along with its Bollinger Bands<\/a>…<\/p>\n

\"\"<\/p>\n

Normally, Bollinger Bands are used to identify the most probable trading range for a stock or an index. But, they can also be useful in determining when a chart is setting up to make a big move. That’s because Bollinger Bands expand and contract depending upon the volatility of a chart.<\/p>\n

And, as we’ve preached quite often here in Market Minute<\/em>, periods of low volatility are always followed by periods of high volatility – and vice versa. We can rephrase that statement to say periods of contracting Bollinger Bands are always followed by periods of expanding Bollinger Bands, and vice versa.<\/p>\n

The blue arrows on the chart point to times when the bitcoin Bollinger Bands pinched quite closely together. The previous two occurrences led to big moves in the cryptocurrency.<\/p>\n

The price of bitcoin fell almost 50% after the Bollinger Bands pinched together last October. And, after the bands pinched together again in March, bitcoin rallied 200%.<\/p>\n

Well… here we go again. As you can see on the chart, the Bollinger Bands on bitcoin are starting to pinch together right now. This condition might last for a few weeks, or the bands might start expanding right away. But, once bitcoin starts to make a move, it’s going to be a big move.<\/p>\n

For the moment, and for the reasons I expressed last month, I suspect that move will be to the downside. But, traders should respect a move in either direction.<\/p>\n

A move to the downside could test the support of the mid-May low at about $7,000. While an upside breakout could propel bitcoin back to $13,000.<\/p>\n

Best regards and good trading,<\/p>\n

<\/p>\n

Jeff Clark<\/p>\n

P.S. <\/strong>Recently, my colleague Teeka Tiwari made the case for bitcoin running much higher in the months and years to come. And he says that one strange, specific event<\/a> all but guarantees this to happen…<\/p>\n

He revealed all the details in a live webinar last Wednesday – 5 Coins to $5 Million<\/em><\/strong>. And not only that… Teeka gave away the name of another, smaller cryptocurrency with massive potential.<\/p>\n

The presentation is still online, but it won’t be for long. Be sure to check it out right here, while you still can.<\/a><\/p>\n

Reader Mailbag<\/strong><\/h2>\n

Are you bullish on bitcoin – either for the long- or short-term? Have you made any great trades on it?<\/p>\n

Let us know, along with any other questions or comments you have, at feedback@jeffclarktrader.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin is gearing up for a big move… but which way?<\/p>\n","protected":false},"author":34,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"service":"","footnotes":""},"categories":[1],"tags":[],"publication":[10],"person":[7],"newsletter-type":[],"ticker":[],"class_list":["post-14860","post","type-post","status-publish","format-standard","hentry","category-market-minute","publication-market-minute","person-jeff-clark"],"acf":[],"_links":{"self":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/14860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/comments?post=14860"}],"version-history":[{"count":0,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/14860\/revisions"}],"wp:attachment":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/media?parent=14860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/categories?post=14860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/tags?post=14860"},{"taxonomy":"publication","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/publication?post=14860"},{"taxonomy":"person","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/person?post=14860"},{"taxonomy":"newsletter-type","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/newsletter-type?post=14860"},{"taxonomy":"ticker","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/ticker?post=14860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}