BTC - The price will eventually come back down!
Here's a quick look at the 8 hr BTC chart. As we can see, the price has been oscillating within the bigger broadening wedge . This kind of price action is tough to predict. The CPI data came in low at 6.0%, which pumped the whole market.
With a series of lower lows and higher highs, the bulls and bears are getting rekt simultaneously!
If the price stays within the broadening wedge , the next logical move would be to the downside! But you never know!
Also, watch the history of CME gaps - They've always been filled! The overall sentiment isn't bullish , so these gaps are expected to get filled in the short term!
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Key Dates to Watch in March:
21/22 Mar: FOMC Meeting
30 Mar: GDP Report
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What's a Fair Value Gap?:
A fair value gap is the difference between a financial instrument's theoretical value and market value, such as a derivative or security. It can indicate a misprizing opportunity for traders to profit by buying or selling at the misprized level. In other words, there is a gap in the price in which some open orders still need to be filled. The price will return to fill the orders.
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Follow me for daily profitable trading setups.
BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
With a series of lower lows and higher highs, the bulls and bears are getting rekt simultaneously!
If the price stays within the broadening wedge , the next logical move would be to the downside! But you never know!
Also, watch the history of CME gaps - They've always been filled! The overall sentiment isn't bullish , so these gaps are expected to get filled in the short term!
-------------------------------------------
Key Dates to Watch in March:
21/22 Mar: FOMC Meeting
30 Mar: GDP Report
-------------------------------------------
What's a Fair Value Gap?:
A fair value gap is the difference between a financial instrument's theoretical value and market value, such as a derivative or security. It can indicate a misprizing opportunity for traders to profit by buying or selling at the misprized level. In other words, there is a gap in the price in which some open orders still need to be filled. The price will return to fill the orders.
-------------------------------------------
If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups.
BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
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Approaching massive resistance zone:
Be careful!
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The price may close the CME Gap between 27.4k and 29k before it comes back down!
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All eyes are on the FOMC on 21/22 Mar., which will decide the direction of this current trend!
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Price forming a bear flag!
The price may close the CME gap and then come down!
The price may close the CME gap and then come down!
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