Bitcoin Pullback Imminent? The rally in Bitcoin futures has been impressive. But, without question, the rally is showing signs of fatigue. So the question is - are we gearing up for a pullback?
Technical Outlook :
Concurrent bearish divergence and a declining volume profile is a telltale sign of an impending correction. Why? Put simply, because all of the bulls are already in the market. Meaning that no new buyers bidding up the price. As a result, long liquidation pushes price lower. An initial operative target for a correction would be filling the gap from Dec. 1st and Dec. 4th between 40,390 and 42,500. While this correction would be significant, it may be necessary to sustain the longer-term bull trend.
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Disclaimers:
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*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
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