🧩 Megaphone Formation (Broadening Wedge)
Volatility expanding inside a widening range
Price now testing the Fib cluster (0.66–0.618) between 105,568–105,987
RSI at 66.3, nearing overbought — pressure is building
Volume surging above 20-period MA → breakout imminent
🎯 Key Confluences:
Upper Bollinger Band: 105,950
Mid BB (Basis): 105,110
Lower BB: 104,342
55 SMA: 104,500
SL Zone (Invalidation): Above 106,500 (upper wick resistance)
🔻 Bearish Breakdown Scenario:
Loss of 105,100 and breakdown from lower wedge line
RSI drops < 45 + volume spike → hedge confirmation
Targets: 104,000 → 102,500
🔺 Bullish Breakout Scenario:
Close above 106,000–106,500 with volume
Targets: 107,800 → 108,900
Manage with trailing stops — things will be quick!
⚠️ Summary:
Megaphone = Volatility Bomb
Stay nimble. If BTC fails at this Fib zone, the breakdown will be fast and decisive. If it breaks out, bulls might squeeze higher but need volume to sustain it.
Volatility expanding inside a widening range
Price now testing the Fib cluster (0.66–0.618) between 105,568–105,987
RSI at 66.3, nearing overbought — pressure is building
Volume surging above 20-period MA → breakout imminent
🎯 Key Confluences:
Upper Bollinger Band: 105,950
Mid BB (Basis): 105,110
Lower BB: 104,342
55 SMA: 104,500
SL Zone (Invalidation): Above 106,500 (upper wick resistance)
🔻 Bearish Breakdown Scenario:
Loss of 105,100 and breakdown from lower wedge line
RSI drops < 45 + volume spike → hedge confirmation
Targets: 104,000 → 102,500
🔺 Bullish Breakout Scenario:
Close above 106,000–106,500 with volume
Targets: 107,800 → 108,900
Manage with trailing stops — things will be quick!
⚠️ Summary:
Megaphone = Volatility Bomb
Stay nimble. If BTC fails at this Fib zone, the breakdown will be fast and decisive. If it breaks out, bulls might squeeze higher but need volume to sustain it.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Protect your Bitcoin investment with our realtime alerts and fully automate your trading. No more sleepless nights, black swans, rug pulls, whale pump & dumps or getting sidelined.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.