Price of Bitcoin ($BTCUSD) rallied after the low of June 18th and GoNoGo Trend painted several weaker pink “NoGo” bars.
This week however, strong purple “NoGo” bars have returned as price has made a new lower high. GoNoGo Oscillator rallied with price to test the zero line and a GoNoGo Squeeze climbed to its max. Now we see the oscillator breaking out of the GoNoGo Squeeze back into negative territory as momentum resumes in the direction of the “NoGo” trend. This has triggered a NoGo Trend Continuation red circle to appear above price, telling us that with momentum on the side of the trend, we could expect further price deterioration.