Tomorrow we are getting a big CME gap due to the nice move to the upside on the weekend, and we have a few things to note.
I have left the most important levels on my chart that you want to look at.
The POC has just moved up to 34,110
The low of the CME gap is going to be around 32,480 and we have 2 scenarios :
1) We continue on moving up, and everyone who is short just because of the CME gap will get squeezed
2) We fill the gap, moving down to around 32.5k
How can we play this?
1st scenario : If you're not in a long, this could be an area to enter a long (at POC) but not one that I like as BTC is clearly overextended, I prefer to wait for a pullback. Anyways, if we start moving up, targets are 35.3k (daily), and then the major one is 37.2-37.9k (fib golden pocket + VAH). If we reject look for shorts, if we break it next target is 40.5k
2nd scenario : If we lose the POC, we can look for shorts with the target of 32,480 to fill the CME gap. This area is also very important because we have the VAL at 32k, if we lose this level, look to compound shorts.
Any questions?
Good luck traders
Remember not to break your rules
Habib
I have left the most important levels on my chart that you want to look at.
The POC has just moved up to 34,110
The low of the CME gap is going to be around 32,480 and we have 2 scenarios :
1) We continue on moving up, and everyone who is short just because of the CME gap will get squeezed
2) We fill the gap, moving down to around 32.5k
How can we play this?
1st scenario : If you're not in a long, this could be an area to enter a long (at POC) but not one that I like as BTC is clearly overextended, I prefer to wait for a pullback. Anyways, if we start moving up, targets are 35.3k (daily), and then the major one is 37.2-37.9k (fib golden pocket + VAH). If we reject look for shorts, if we break it next target is 40.5k
2nd scenario : If we lose the POC, we can look for shorts with the target of 32,480 to fill the CME gap. This area is also very important because we have the VAL at 32k, if we lose this level, look to compound shorts.
Any questions?
Good luck traders
Remember not to break your rules
Habib
