{"id":54085,"date":"2020-08-17T19:52:08","date_gmt":"2020-08-18T02:52:08","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=54085"},"modified":"2020-08-17T19:52:10","modified_gmt":"2020-08-18T02:52:10","slug":"bitcoin-a-breakout-after-the-pause","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2020\/08\/17\/bitcoin-a-breakout-after-the-pause\/","title":{"rendered":"Bitcoin: A Breakout After A Refreshing Pause"},"content":{"rendered":"\n

Two weeks ago, I examined the sharp pullback<\/a> in Bitcoin (BTC\/USD) and concluded that the cryptocurrency was taking a refreshing pause ahead of the next breakout. The breakout is here.<\/p>\n\n\n\n

\"Bitcoin
Source: TradingView.com<\/a><\/strong><\/figcaption><\/figure>\n\n\n\n

This breakout is a double bonus as it represents a bullish (upside) resolution to a Bollinger Band (BB) squeeze<\/a>. Such breakouts are tradeable with well-defined entry and stop points (above and below the squeeze). Each breakout gives me more confidence that I can maintain my current and growing position in Bitcoin for longer. Per the latest trading strategy, I will buy the next pullback during this breakout.<\/p>\n\n\n\n

As a reminder, breakouts confirm the buying power in the market. Rebounds from pullbacks further solidify the momentum. <\/p>\n\n\n\n

Ahead of this breakout, the Google Trend Momentum Check<\/a> (GTMC) was still cooling down. Per the GTMC, the spike in Google search trends<\/a> for “bitcoin” signaled a likely reversal of the pullback. The pullback was short-lived. Now I monitor these data for the next spike in searches.<\/p>\n\n\n\n

Be careful out there!<\/p>\n\n\n\n

Full disclosure: long BTC\/USD<\/p>\n","protected":false},"excerpt":{"rendered":"

Two weeks ago, I examined the sharp pullback in Bitcoin (BTC\/USD) and concluded that the cryptocurrency was taking a refreshing pause ahead of the next breakout. The breakout is here. This breakout is a double bonus as it represents a bullish (upside) resolution to a Bollinger Band (BB) squeeze. Such breakouts are tradeable with well-defined … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[584,482,1974,20,62],"tags":[602,1958,2187,1969,1164,2222,2223],"class_list":["post-54085","post","type-post","status-publish","format-standard","hentry","category-bollinger-band","category-breakout","category-cryptocurrency-forex","category-forex","category-technical-analysis","tag-bitcoin","tag-btc-usd","tag-btcusd","tag-cryptocurrency","tag-google-trends","tag-google-trends-momentum-check","tag-gtmc"],"yoast_head":"\nBitcoin: A Breakout After A Refreshing Pause - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2020\/08\/17\/bitcoin-a-breakout-after-the-pause\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin: A Breakout After A Refreshing Pause - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"Two weeks ago, I examined the sharp pullback in Bitcoin (BTC\/USD) and concluded that the cryptocurrency was taking a refreshing pause ahead of the next breakout. 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