Bitcoin CME FuturesUpdated TheKing Boring Phase
i didn't post much for now, because right now, Have nothing to say!
- As you can see on the chart BTC is staying in a fighting tunnel ( 31k - 36k )
- We can notice a strong rebuy around 28500$ when bears try to push TheKing more dip than that area.
- Most of the time BTC bounced on EMA300 ( Violin EMA ) around 31k.
- Bollinger Bands getting tinner and tinner, it could lead to a strong movement in a near future.
- For now imo, i just see 2 Scenarios :
1. BTC break down EMA300 and will go take the missed GAP around 24-26k
2. BTC will continue to stay in the tunnel and break it up soon or later, if we break this bearish trend 42.5k will be the next level to watch closely
- We could get some worst scenario but for now nothing lead us to thing that BTC will go to 20k.
- i am still bullish and believe that for now we are in a Correction Phase, BTC is building a long consolidation area
- i don't cannot consider to be in a Bear Market at 30k.
Patience is the key !
Happy Tr4ding !
- As you can see on the chart BTC is staying in a fighting tunnel ( 31k - 36k )
- We can notice a strong rebuy around 28500$ when bears try to push TheKing more dip than that area.
- Most of the time BTC bounced on EMA300 ( Violin EMA ) around 31k.
- Bollinger Bands getting tinner and tinner, it could lead to a strong movement in a near future.
- For now imo, i just see 2 Scenarios :
1. BTC break down EMA300 and will go take the missed GAP around 24-26k
2. BTC will continue to stay in the tunnel and break it up soon or later, if we break this bearish trend 42.5k will be the next level to watch closely
- We could get some worst scenario but for now nothing lead us to thing that BTC will go to 20k.
- i am still bullish and believe that for now we are in a Correction Phase, BTC is building a long consolidation area
- i don't cannot consider to be in a Bear Market at 30k.
Patience is the key !
Happy Tr4ding !
Note
MACD Weekly View - 4 to 6 Weeks to be bullish imo.
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