hi guys
as we see BTC has broken out its daily trend line
and just came out of its trading range(the white box)
It's a typical break-out, so technically we expect a pullback to the top of the trading range.
to sum up, the target could be the purple zone which is an order block and also a gap in BTC CME's futures market.
BUT⚠🛑⚠🛑 fundamentally:
I fear that the treading range that we have here is also an order block
let me explain, this month the fear and greed index was extremely low
it means generally people fear seeing lowers prices so they sell but there were still some buyers to buy but there were not enough of them for institutes so I think institutes want to push price lower for themselves by selling a huge amount of volume since there were not adequate buyers they decide to sell partially making order block or treading range.
in addition, technical analyses tell us the trend could be bullish so it also can provide enough buyers for the whales.
oooook🥱🥱 what's the result ???
my opinion is that we see lower prices around 13-15K
as we see BTC has broken out its daily trend line
and just came out of its trading range(the white box)
It's a typical break-out, so technically we expect a pullback to the top of the trading range.
to sum up, the target could be the purple zone which is an order block and also a gap in BTC CME's futures market.
BUT⚠🛑⚠🛑 fundamentally:
I fear that the treading range that we have here is also an order block
let me explain, this month the fear and greed index was extremely low
it means generally people fear seeing lowers prices so they sell but there were still some buyers to buy but there were not enough of them for institutes so I think institutes want to push price lower for themselves by selling a huge amount of volume since there were not adequate buyers they decide to sell partially making order block or treading range.
in addition, technical analyses tell us the trend could be bullish so it also can provide enough buyers for the whales.
oooook🥱🥱 what's the result ???
my opinion is that we see lower prices around 13-15K
