Here's a quick look at the BTC 4 hr . chart. As we can see, the price has formed a descending triangle, and a break, either way, will happen soon!
It is important to note that there exist significant unfilled CME- and Fair value gaps situated below the current price. As a general trend, these gaps are known to be filled eventually. Thus, it would be reasonable to anticipate a price retracement to those levels. It is worth mentioning, however, that such gaps may take an extended period to be filled, though in most cases, they are filled relatively promptly.
Also, the current volume is very low, indicating that a more significant move is coming! ------------------------------------------- Key Dates to Watch in March:
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.
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BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
Agreed, if nothing else it will fill the gaps below before further upside and possibly even come a little lower. Personally I’d be looking at sideways chop and then a flush to double bottom and maybe just a few thousand lower in the later part of the year.
MBM_Crypto
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@CryptoCainestrades I still believe that we are going to see the price between 12-14k 🔥