Special celebration day because why not!? Good opportunity to make another update on Bitcoin as we get out of the consolidation range under the 2021 yearly open and move into a more corrective move out of the ongoing daily and weekly trends.
In the video, we look into the technical structure that makes sense to me as a set of heuristics useful for deterministic bias and risk basis.
Overall I'm still looking at this through the lens of a corrective move in a wide uptrend per the criterium discussed in the video.
I didn't touch in this video that options pricing sentiment looks bullish for April and June. Futures have some ongoing natural short pressure as we approach the Quarterly derivatives settlement date.
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27.4 broken and UTC-overnight break above 28k key level as we return to the upper range of the consolidation on top of the daily/weekly trend.
Now I have to say the overnight move is impressive BUT I don't like the volume. Likewise, I am assuming we can perfectly well being sent back into the range as this turn turn out to be a faekout.
Main key levels to be watchful as control basis 28 (weekly doji range) and 27.4. (confluence of around 4 daily opens)
Options Nominal Open Interest raised to 4Bn into the 31st Match.
This 4H Momentum looking good . If there a pullback 28k that could be excellent long-side entry with stop/inval very close under it
Funding Rates are rising higher again which is not ideal in a bull scenario.