It can technically fool everyone and go up from here, right now.
If it does not here's the sauce.
I've caught this whole bottom so far. (ongoing thread in comments)
After the recent increase in price, it looks like $BTC Futures may be building some liquidity for it's next leg up. What does this mean? I'm expecting price to fall over the course of the next 3 months into a falling wedge pattern. This pattern is often viewed as a bullish pattern meaning price will continue to recover.
I'm curious to see how this plays out....
As I predicted a few weeks ago we moved up very quickly through the liquidity gap in the 4000's.
This allowed price to move up 15% with very little increase in open interest on the long side - meaning the liquidity gap is still there.
1) Huge sell off when we hit 5k
2) RSI bearish divergence on 4H
3) Stuck below 200 day moving averages
Target: ~4500
(***DISCLAIMER: I'm not a professional trader, this is not financial advise, you shouldn't make any trade based on this idea***)
Hello there!
Looking at the BTC1! daily chart it seems that it hasn't been able to push through 200EMA (green line) and is now heading back.
I'm expecting a retrace above the strong support area (red rectangle) around lows 4k$, right...
BTC continues its crazy run but ran into serious resistance here at around $5,500
It was an area where we paused right before the dump to new lows. If we can break above this level than 5800-6000 is on the cards.
Hedging long positions here would be a smart idea in case we do pullback as the gaps below are plentiful right now to go and close
A close back below...
A "dead cat bounce" price pattern may be used as a part of the technical analysis method of stock trading. Technical analysis describes a dead cat bounce as a continuation pattern that looks in the beginning like a reversal pattern. It begins with a downward move followed by a significant price retracement. The price fails to continue upward and instead falls...
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CME:BTC1!
