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nagihatoum
Mar 2, 2020 10:13 PM

BTC1! CME futures $9325 then $7670 Long

Bitcoin FuturesCME GLOBEX

Description

The CME futures shows a head and shoulders that is not clear in BTCUSD. CME Also shows a W formation which is bullish. While BTCUSD has a clear fallen wedge and broke out of it which is also bullish. Combining information from both gives a clearer picture of what will happen. Now obviously the trend is up. But on the CME, $9323 is a very strong resistance because it is were price will retest the neckline of the H&S, It is also bottom resistance of the 4H ichimoku cloud and the top resistance of the 2H ichimoku cloud. Price action did not reach the H&S target which is very close to the next gap at $7670, so price will have a very strong incentive to go down again.
Comments
ungushi2013
This is nice analysis.

Do you provide any daily signal?
nagihatoum
@ungushi2013, Almost everyday, yes, but I don't give signals I just try to predict where the price is going on the micro and macro scale. How you trade it is up to you.
cardan6006
@nagihatoum, 9300 soon?
nagihatoum
@cardan6006, even higher, check out my new ideas.
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