ijiro

BTCUSD CME Implying Further Downside

Short
CME:BTC1!   Bitcoin CME Futures
With CME closing it's 3D candle today in a couple of hours, it's very likely we will see further continuation to the down side. A bearish engulfing candle is forming on CME and a close below $33405 would confirm it. Long wick down from the top with heavy selling volume indicates rejection from the high and implies a potential local top is in. RSI is coming from the critical bull zone and passing past it's 21 EMA. Stochs are also now crossing down and may leave the critical bull zone on next open. I suspect price to come down $23k/24k in the coming days as that is where the 21 EMA will likely sit on next open and was our previous breakout resistance. At that area is also the gap from 23k to 26k which also now has an opportunity to be filled.
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