On March 27th at 7:30 PM when Bitcoin traded at $7,835, I posted a video on social media pointing out the technical case as to why Bitcoin and the cryptocurrency market appeared to be due for a major selloff. Nearly 48 hours later Bitcoin had declined 16.5% to $6,533. I personally traded this selloff via 78,000 XRP short at .57 on Bitfinex as the borrow interest rate is very low due to its large float, and the volatility is greater than bitcoin allowing for greater returns on top of the 3.3x margin.
As Bitcoin traded in a tight range prior to and shortly following 7:30 the 3 hour Bollinger Band Width indicator in Yellow and Average True Range in Blue decreased steadily, and theory tells us volatile price action is bound to occur shortly after, and that is exactly what we saw.
Certainly not claiming I nailed the bottom of this trade, I am just indicating the large volatility and power of the declining ATR and BB Width.