{"id":446428,"date":"2020-10-14T20:00:45","date_gmt":"2020-10-14T20:00:45","guid":{"rendered":"https:\/\/wncen.com\/?p=446428"},"modified":"2024-06-11T14:07:04","modified_gmt":"2024-06-11T14:07:04","slug":"warning-watch-out-for-bitcoin-bulldozer-when-volume-expands","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/warning-watch-out-for-bitcoin-bulldozer-when-volume-expands\/","title":{"rendered":"Warning: \u201cWatch Out\u201d For Bitcoin \u201cBulldozer\u201d When Volume Expands"},"content":{"rendered":"
Volatility is finally increasing after a return to historical lows<\/a>, 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.<\/p>\n 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.<\/p>\n 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> a “bulldozer” when supported by volume.<\/p>\n Related Reading | Analyst: The Next Bitcoin Break Will Set The Stage For Weeks To Come<\/a><\/strong><\/em><\/p>\n Bitcoin is currently experiencing its second-largest volume contraction of the year, with the previous one resulting in an over 30% rise from $9,000 to over $12,000 at the local 2020 high<\/a>.<\/p>\n <\/p>\n 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.<\/p>\n The fact that volume isn’t following the latest breakout above $11,000 is slightly alarming for bulls that could be being baited into a trap<\/a>.<\/p>\n In this scenario, Bitcoin falls instead, and the “bulldozer” effect will give $10,000 another, more powerful retest that bulls will need to hold.<\/p>\n Bulls are warned to potentially get out of the way and “watch out,” but the same is true if the top cryptocurrency continues higher.<\/p>\n Related Reading | Crypto Calculated: How Ancient Math Predicts Bitcoin\u2019s Next Top At $270K<\/a><\/strong><\/em><\/p>\nTrader Joel Olszewicz Warns Bitcoin Bulldozer Is Coming<\/h2>\n
Warning: Bitcoin Bulldozer Coming After Volume Breakout And Expansion | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Under Construction: Have Bulls Built A Foundation For Run To Begin?<\/h2>\n