INS - What's the next Move?
INS/BTC has been consolidating over the last few days and has been following suit of BTC.
BTCUSD has started to form a Bolinger Band Squeeze on the 4 Hr chart and so has INS.
You can see the extended consolidation for INSBTC on the 1 -2 Hr chart, as it has stayed consistently between .753 & .780 SATs. Which has now formed a pretty large squeeze on the 1 -2Hr and now forming on the 4 Hr chart.
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https://www.tradingview.com/x/zp0wEelz/
I can see a few different scenarios happening and a lot probably has to do with the move thatBTCUSD decides to make over the next couple of days. BTCUSD and INSBTC have both formed descending triangles and we will have to see if it breaks down or breaks up.
If INS decides to move up it will most likely go to its last resistance position of around .918-.933 for 22% profit.
Or if it breaks down, we should see it fall back down to the previous support of .717 and retrace back to around .847 for around 19% profit.
More will be revealed and I will update as progression continues.
If you have been paying attention to INSBTC, please let me know your thoughts and if you have any predictions on what is to happen next?
Happy Trading.
BTCUSD has started to form a Bolinger Band Squeeze on the 4 Hr chart and so has INS.You can see the extended consolidation for INSBTC on the 1 -2 Hr chart, as it has stayed consistently between .753 & .780 SATs. Which has now formed a pretty large squeeze on the 1 -2Hr and now forming on the 4 Hr chart.
[url=
https://www.tradingview.com/x/zp0wEelz/
I can see a few different scenarios happening and a lot probably has to do with the move that
BTCUSD decides to make over the next couple of days. BTCUSD and INSBTC have both formed descending triangles and we will have to see if it breaks down or breaks up. If INS decides to move up it will most likely go to its last resistance position of around .918-.933 for 22% profit.
Or if it breaks down, we should see it fall back down to the previous support of .717 and retrace back to around .847 for around 19% profit.
More will be revealed and I will update as progression continues.
If you have been paying attention to INSBTC, please let me know your thoughts and if you have any predictions on what is to happen next?
Happy Trading.
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