Hello traders,
I've been watching price action closely and while yes it's possible we fill the CME gap around $48,000, you can't ignore the fact the uptrend which previously had 2 validation touches on the uptrend which had support breaking out of the downtrend from ATH's has failed and seems to be weak.
The last few hourly candles have struggled to flip it back into support, could we see some red candles soon?
It's been a while since Asia's trading session had a nice sell off, which prior to this move up from $29,000 was happening frequently.
Sooner or later we will retest $40,000 - $42,000 in my perspective.
$41,111 - $41,555 would bring us around back to test the downtrend that buyers broke out of, and buyers will either have to step up or a possible fake out will occur.
Time will tell, stay safe out there.
Please like/comment to show your support.
👍
I've been watching price action closely and while yes it's possible we fill the CME gap around $48,000, you can't ignore the fact the uptrend which previously had 2 validation touches on the uptrend which had support breaking out of the downtrend from ATH's has failed and seems to be weak.
The last few hourly candles have struggled to flip it back into support, could we see some red candles soon?
It's been a while since Asia's trading session had a nice sell off, which prior to this move up from $29,000 was happening frequently.
Sooner or later we will retest $40,000 - $42,000 in my perspective.
$41,111 - $41,555 would bring us around back to test the downtrend that buyers broke out of, and buyers will either have to step up or a possible fake out will occur.
Time will tell, stay safe out there.
Please like/comment to show your support.
👍
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.