BitcoinUpdated Will the CME Gap save BTC?
BTC /USD (Daily)
Bearish Case played out
- Possible retrace to 0.618 Fib ✅
- Wiped out many overleveraged longs. ✅
Bullish/Neutral Case
- Large CME Gap created at approx. 53.5k which will eventually get filled.
- Possible Cup and Bigger Handle
- Seem to have found Support at approx. the 49.5k area which is previous resistance now turned to support, also the 0.5Fib
- Wicked passed and bounced from the 0.618 Fib Retrace
- MACD /Signal and Histogram reversing
- VPVR shows a lot of support all the way down to approx. 45k.
- Fear And Greed Index is now 18.
Bearish Case
- VPVR shows a lot of resistance at $53.5-57k
- Below the 200EMA and has to reclaim.
- Broken out of the Re Trendline
Thoughts?
Bearish Case played out
- Possible retrace to 0.618 Fib ✅
- Wiped out many overleveraged longs. ✅
Bullish/Neutral Case
- Large CME Gap created at approx. 53.5k which will eventually get filled.
- Possible Cup and Bigger Handle
- Seem to have found Support at approx. the 49.5k area which is previous resistance now turned to support, also the 0.5Fib
- Wicked passed and bounced from the 0.618 Fib Retrace
- MACD /Signal and Histogram reversing
- VPVR shows a lot of support all the way down to approx. 45k.
- Fear And Greed Index is now 18.
Bearish Case
- VPVR shows a lot of resistance at $53.5-57k
- Below the 200EMA and has to reclaim.
- Broken out of the Re Trendline
Thoughts?
Note
Let's see if break up from this Ascending Triangle...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.