The new week should be a week of active BTC price movements. This is indicated by the Asset Price Volatility Index.
On May 7, we wrote that the Index was beginning its correction. And all this time, for almost a week, it was declining, from 8.4 to 6.09. Today, the Volatility Index is forming the bottom of this decline and has its first green daily candle since May 7th.
The local index level should be delivered on May 14-15. We set a reversal vertical line for tomorrow - for now this is the most likely option. After confirmation of the reversal, we expect a sharp increase in the Index in the coming days.
We remind you that a surge in volatility does NOT mean a clear increase or decrease in price. It means that the price is exiting the sideways movement. And you should be prepared for this in terms of takes and stops.
The range is ending, the BTC price is preparing daily candles with more than 8-10% movement. We expect the index to rise above 11.
Our forecast and expectations are that from the upcoming surge in volatility, the price of#BTCwill still go up due to the ATH update. Negative market sentiment accompanies this. BUT to confirm this forecast, the price must break through the EMA of the 50 day TF (currently $63,367) and the volume level of $64,120.
