Warning: “Watch Out” For Bitcoin “Bulldozer” When Volume Expands
Volatility is finally increasing after a return to historical lows, but volume has yet to follow. When it does, however, one crypto trader says to “watch out” for the “bulldozer” that will be Bitcoin after a breakout supported by volume expansion.
Here’s a look at the last time volume contracted this much, and what to potentially expect across the coming crypto market price action when volume finally arrives.
Trader Joel Olszewicz Warns Bitcoin Bulldozer Is Coming
The cryptocurrency market is known for its extreme price volatility that makes holding a wild rollercoaster ride. One price gets going, it can act like a runaway freight train, or as crypto trader Joel Olszewicz says a “bulldozer” when supported by volume.
From that move, Bitcoin has since retraced slightly and is gearing up for its next major, decision-making move. Whichever direction the cryptocurrency heads next, should set the trend for the rest of the year and into 2021.
Under Construction: Have Bulls Built A Foundation For Run To Begin?
The higher high would be a significant buy signal and confirmation of a new uptrend, following the higher low set on Black Thursday. If that’s the case, the bull run could blossom from the dirt left behind from the bulldozer’s destructive path.
Featured image from Deposit Photos, Charts from TradingView