BTC Futures Showing Signs of Bearishness

Updated

If the AQZ fibs holds true, we should be anticipating bearishness on BTC futures which indicates bearishness in Bitcoin. In the same light it DXY is showing signs of bullishness which will support the fall of BTCUSD.

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BTC dominance also has some gaps that could be filled while developing a bearish structure. Its all looking bearish until we see otherwise.

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BTC dominance needs a daily close below 65.75% to force to enforce the bearish structure. Doing this will expose the 62% regions.

So far the futures has traded efficiently, covering all available market gaps even the one at 3800. The only gap yet to be covered for NOW is the one at 2600. It remains to be seen if that drop will happen. If it does we will be ready to re-enter long as we ride towards $100,000 before year end.

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BTC is approaching one of our targets. Congratulations if you followed. :-)

bishopraj

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