CME visuals (2nd possible scenario) Patience pays off (BTC)
Updated
$32,500 is the area of interest right now.
If we break back above $32,500 on (spot) it's likely we get another push up towards ($36,140) which is likely where we get the 3rd validation point on the downtrend as well as the retest from the broken trend line (bearish retest) which if we get a rejection will send us back below $32,500 (s/r flip) from either support to resistance or as of right now (it's still resistance).
This is just an alternative scenario on the CME charts and won't even have a clear visual on this until tomorrow night/Monday.
99% of CME gaps get filled sooner or later (fact), the question is when?
We've clearly been in a downtrend since the ATH at $42,000, and until we break above that downtrend the trend is your friend and that is currently bearish not bullish even if we break $32,500, and $34,000. We'd have to break above $36,140 on a 4 hour, 6 hour, or daily close in order for me to flip bullish again.
Plan your trade and trade your plan.
YouTube channel coming soon!
Enjoy your weekend, I'll be watching the McGregor fight cheering on the irish fighter.
Please get this technical analysis to 30+ likes to unlock tomorrow's/monday's TA 👍
If we break back above $32,500 on (spot) it's likely we get another push up towards ($36,140) which is likely where we get the 3rd validation point on the downtrend as well as the retest from the broken trend line (bearish retest) which if we get a rejection will send us back below $32,500 (s/r flip) from either support to resistance or as of right now (it's still resistance).
This is just an alternative scenario on the CME charts and won't even have a clear visual on this until tomorrow night/Monday.
99% of CME gaps get filled sooner or later (fact), the question is when?
We've clearly been in a downtrend since the ATH at $42,000, and until we break above that downtrend the trend is your friend and that is currently bearish not bullish even if we break $32,500, and $34,000. We'd have to break above $36,140 on a 4 hour, 6 hour, or daily close in order for me to flip bullish again.
Plan your trade and trade your plan.
YouTube channel coming soon!
Enjoy your weekend, I'll be watching the McGregor fight cheering on the irish fighter.
Please get this technical analysis to 30+ likes to unlock tomorrow's/monday's TA 👍
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i guess s/r flip at $32,500 is happening
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It looks like $32,500 will reject and head towards $30,500.
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bull trap confirmed if we break below $31,999
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confirmed.
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