This is the Futures for MAY for Bitcoin. It has already met its lows.
The blue triangle is where it will trade for the month of MAY, it should reach 28280 with no problem.
Things get congested within the first PINK SMALL RECTANGLE after leaving the blue triangle and entering the light yellow triangle, it has good volume in this area with little resistance until the beginning of July, where after 32285 it will enter the big pink rectangle. This is a congested area with multiple resistances along the way.
It has gathered the most volume at 39xxx. Be very cautious after leaving the large pink rectangle in the way up, keeping an eye on the dotted blue rectangle line.
These are long term lines that will get distorted when taking the chart to shorter time frames and you must adjust them accordingly. Do not adjust the green lines as these act as a frame for the long term picture, mostly giving monthly ranges.
Monthly volume for the rest of May will be little, it stands at 78.708K, there will be less volatility. June volume should also be little, up until July when it comes out of the yellow triangle.
The blue triangle is where it will trade for the month of MAY, it should reach 28280 with no problem.
Things get congested within the first PINK SMALL RECTANGLE after leaving the blue triangle and entering the light yellow triangle, it has good volume in this area with little resistance until the beginning of July, where after 32285 it will enter the big pink rectangle. This is a congested area with multiple resistances along the way.
It has gathered the most volume at 39xxx. Be very cautious after leaving the large pink rectangle in the way up, keeping an eye on the dotted blue rectangle line.
These are long term lines that will get distorted when taking the chart to shorter time frames and you must adjust them accordingly. Do not adjust the green lines as these act as a frame for the long term picture, mostly giving monthly ranges.
Monthly volume for the rest of May will be little, it stands at 78.708K, there will be less volatility. June volume should also be little, up until July when it comes out of the yellow triangle.