I think the CME expiration date has a major impact on BTC's trend transition.
crypt0guy
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I agree with your overall point but you shouldnt draw the red trend line over a high that hasn't been set yet
CryptoMagician34
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@crypt0guy, yes thats true, its a bit risky but 5300 was also resistance before the high of 5500. I would expect more volume to break above 5300 again.
crypt0guy
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@CryptoMagician34, On your chart I see resistance at $5330. I would want to see a volume backed push thru that before gaining more confidence. I'm leaning towards a fake breakout at the moment. Push to that area then rapid pullback like the period leading to April 10th 12pm (recent high). Im still holding speculative positions so I hope Im wrong.
CryptoMagician34
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@crypt0guy, I will be going long at 5350 and short at 5200. Stop limit for both positions will be the same #s flipped.