Since I'm not an expert trader, and I just do this for fun, I like to keep things simple. So, here it is:
Yes, I get that BTC doesn't have to "mind the gap," but it almost always does. Note the last major gap to be filled from the CME futures is approximately the 8500-9K level (8515-8985 to be exact - see www.tradingview.com/...e-low-point-at-8515/)
At this point the downward channel (black parallel lines) is glaringly obvious. You could also draw a symmetrical triangle too - but I think BTC wants to fill the gap. It NEEDS to fill the gap. It's BTC's **destiny.**
I'm long term super-bullish on BTC. But I don't think it's time for it to restart the parabola just yet - it needs to take care of business first.
Yes, I get that BTC doesn't have to "mind the gap," but it almost always does. Note the last major gap to be filled from the CME futures is approximately the 8500-9K level (8515-8985 to be exact - see www.tradingview.com/...e-low-point-at-8515/)
At this point the downward channel (black parallel lines) is glaringly obvious. You could also draw a symmetrical triangle too - but I think BTC wants to fill the gap. It NEEDS to fill the gap. It's BTC's **destiny.**
I'm long term super-bullish on BTC. But I don't think it's time for it to restart the parabola just yet - it needs to take care of business first.
Comment:
It looks like it's bouncing within the larger symmetrical (perhaps descending) triangle. I would guess things will be clearer in the next 24 hours.