After a strong bounce off the lows in mid May, price has consolidated sideways for Butterfly Network Inc.
Price hit a low in mid May and the GoNoGo Oscillator first indicated a change in technical environment when it broke above the zero line a few bars later. This price price rally caused the GoNoGo Trend to move through its colors first painting amber “Go Fish” bars and then finally identifying a “Go” trend which has held since. As price has consolidated sideways the GoNoGo Oscillator has fallen to and ridden the zero line, causing the climbing grid of the GoNoGo Squeeze to climb to a max showing that volatility is reduced. We will watch for a break of the squeeze and if it moves off the zero line into positive territory then we’ll expect new highs in price.
