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CME Bitcoin (BTC1!) - July 24

CME:BTC1!   Bitcoin CME Futures
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Today's gap is 9650-9665.

You need to make sure you get support at the 9650 point, downtrend line (3).

If supported by the downtrend line (3), it is expected to rise above the 9720 point.

If you fall on the downtrend line (3), you can touch point 9470.

If you are supported in the 9720-9800 section, the 1st section of the ascent, there is a possibility that you will fill the 2nd gap section (10010-10200).


As the gap in USDT dominance rises, we need to closely watch the flow of funds in the coin market.

Please refer to the XBTUSD chart for details.

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** Check support, resistance and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee profit or loss on investment.

Description of abbreviations shown in chart
R: Resistance point or section, where a countermeasure is needed to preserve revenue.
S-L: Stop-Loss point or section
S: A point or section that can be purchased for profit generation as a support point or section

GAP is the difference in price that occurred when a CME exchange is closed, because it is not a 24-hour transaction.
G1: closing price when closed
G2: market price when opening

Comments

Great setup and plan!
I think downtrend line (3) will be broken.
Daily RSI at key resistance, 4hr RSI is forming a bearish divergence, 1hr RSI entering bearish trend. The 5 Elliot wave to the upside is finishing. I think regardless of a bearish or bullish bias for the mid-term, a downward pressure is due soon.
What do you think of the setup below?
+1 Reply
readCrypto Phi-Deltalytics
@Phi-Deltalytics,Thanks for sharing a good analysis.
Reply
great setups today and excellent write-up. upvoted!
+1 Reply
readCrypto ProjectSyndicate
@ProjectSyndicate, Thanks for the comment. Have a nice day.
Reply
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