Why Does Bitcoin fall on the 27th of each month? Long

Bitcoin / United States DollarCoinbase

Description

⋅ May 20, 2021 12:15 AM

Each month this year near the 27th day Bitcoin will have one of its lowest prices of the month.

However, specifically after the 27th, Bitcoin will always continue its trend upwards.

Since the current dip hasn't bounced over previous highs, I have a feeling we will continue dipping towards the 27th again this month.

I have plotted some important support lines and confluence trend lines to estimate a possible buy zone for BTC.

Let's hope for a Green June!! It would be another great Alt Season if we get a proper bounce up.

Comments

qwerty123asd

⋅ May 20, 2021 12:41 AM

Hey just wanted to let you know it's not exactly the 27th, it's supposedly the last Friday of every month. (Which is when the futures contract expires)
Here's my outlook:

qwerty123asd

⋅ May 20, 2021 12:41 AM

@qwerty123asd, Blue vertical lines indicate futures expiration dates

ttovmasy

⋅ May 20, 2021 12:56 AM

@qwerty123asd, thanks!

Yeah I know it has something to do with futures. But I’m looking at behavior of the chart and sometimes it’s here and there, but ALWAYS up after 27th.

Your chart looks great, I like your buy zone, it’s more likely to hit than mine. I’ll add a small buy there, but I want to hit the bottoms if I can :)))

qwerty123asd

⋅ May 20, 2021 12:58 AM

@ttovmasy, Ya it's more of a bounce/support zone. I'm only looking for more short entries in the coming days/weeks