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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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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The CME gap was closed, and the bear flag was broken immediately after it was filled.
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