Welcome friends and haters alike — to this spectacular analysis, brought to you by the often imitated, never duplicated, legendary wizard of the markets! Let's jump right in! Looking at the four hour chart for TRX/BTC -1.13% , we can see that price action is pushing the Bollinger bands to the downside, and trying to reenter the downtrend channel . If you recall from my last post, I said "Yes, a breakout above the downtrend channel has occurred, but there is no follow through. Nothing is happening." When you see weak breakouts like that, they often end up failing. Looking at TRX/BTC -1.13% , it's toying with the top trendline of the channel, and I'm starting to suspect that if we reenter the downtrend channel , we will get the volatility spike that we've been expecting. For those who may not have seen yesterday's post, or need a refresher, we were talking about the clear volatility squeeze that is occurring in TRX/BTC -1.13% .
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