BTC1! filled gap at 39,225 last week on January 23rd that had been unfilled since start of December
As long as can continue closing above Mid of the whole move (42k) I believe it makes its way back up to the .618
To keep actively trading Bitcoin short... I am watching and trading Bitcoin futures. This morning there was a 30 minute timeframe Spike right at the level I have been watching since after the ETF launch: the 50% Retracement of the "Sell the News" phase. I am looking for price to hold this level as Resistance and retrace at least back to 41000 in short time.
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- Just posting to monitor the new gap.
- Not an Analysis.
- This new gap can be taken back fast or can be taken back later at next bear market.
- The Legend of the Gap.
Happy Tr4Ding !
CRYPTOCAP:BTC will likely see 1 more dip before it resumes it's uptrend, WHY?
There is still a decent amount of bullishness out there.
HOWEVER, if #Bitcoin can do the following:
RSI hold above halfway point
$ Flow gets better, which coincides with...
Buy volume increasing
Then the drop will likely not be harsh & we could have seen the bottom,
Good Morning/Afternoon Update
The CRYPTOCAP:BTC GAP was FILLED yesterday.
38k is minor support, don't expect a stand there but bounce possible.
Dotted lines are Fibonacci levels.
#BTC 37k price target very close.
#Bitcoin 32k is a stretch but anything is possible with a volatile asset.
Bearish moving avg crossover is shown by the yellow...
After successfully closing the gap around 40K-41K, Bitcoin (BTC) is now eyeing the next significant gap formed in October 2023. It seems likely that the price will gravitate towards the next gap zone at 32K - 35K before signaling a potential change in direction. Traders, take a moment to catch your breath, prepare your coffee, and stay vigilant. The market is...
Here I've highlighted all the weekly CME gaps for Bitcion, showing all but One have now filled.
Technically, there's still one open just under $10,000 at / around $9750.
Unlikely this will ever fill at this point, but as of today Bitcoin filled the recent gap just under $40,000, which clears Bitcoin for runing higher.
However I still believe we'll re-test...
A lot of things about BTC is only clear in hindsight, so everyone is just predicting.
If you study Elliott Wave, the waves have so far been very perfect because BTC is a math model, but it is very hard to do it in real-time is because corrections can get complicated.
So at 48k, it is clear that price has retrace to the previous Wave 2. Unless we move up more, if...
