LIVEThe new week should be a week of active BTC price movements. This is indicated by the Volatility Index of the asset price.
On May 7, I wrote that the Volatility Index was starting its correction. And all this time it has been declining for almost a week, from 8.4 to 6.09. Today the Volatility Index is forming the bottom of this decline and so far it has its first green daily candle since May 7.
The local bottom on the Index should be set on May 14-15. I put a reversal vertical line for tomorrow - so far it is the most probable option. After confirmation of the reversal, I expect a sharp rise in the Index in the next few days.
I remind you that a volatility spike does NOT mean an unambiguous rise or fall in price. It means that the price is coming out of a sideways movement. And you should be ready for it in terms of takeouts and stops.
Range is coming to an end, BTC price is preparing daily candles with more than 8-10% movement. I expect the index to hike above 11.
My prediction and expectations are that out of the upcoming volatility spike, #BTC price will still go for a local rise and then down to $53,000. The rapidly changing negative to positive market sentiment supports this. But to confirm this forecast, the price must break through the strong level of $59,000.
LIVE