Watch out for another down-turn as BTCUSDSHORTS just reached another peak yesterday, even higher than the previous peak reached that preceded BTC price drop from 40K to 32K. Will history repeat itself again?
When looking at the 6-month delta between BTC futures contract in Dec 2021 vs. Jun 2021, it appears to provide a forward-looking sentiment of the current BTC price action. The Dec-Jun BTC delta line crossed above BTC reference line in Feb 2021 indicating positive forward sentiment. The same delta line crossed below BTC reference line in Mar 2021, even though BTC...
Classic Fib extension, tested 0.786 level from recent high. Now targeting 1.618 level ($3.338)
Strong resistance line and 20 Day EMA coincided today, attracting price to touch resistance line. BTC will be heading underwater again in the near term.