Spring cleaning
BTC on CME (
BTC1 ticker).
Super nice structure.
1) Price dip and grind below 50m reset the open-interest and attracted a large amount of new short positions. A trap was set.
2) Breaching higher from here confirms past 2 days was a spring: Measured move is to 1.618 fib of 34k and it will get there quick if the move plays out.
3) CME is trading higher than spot: institutional buyers are willing to pay a premium for immediate exposure indicating that smart-money feels a move is imminent.
4) Dollar Index looks terrible and is dropping: giving BTC room to spread it's wings.
Happy hunting!
BTC1 ticker). Super nice structure.
1) Price dip and grind below 50m reset the open-interest and attracted a large amount of new short positions. A trap was set.
2) Breaching higher from here confirms past 2 days was a spring: Measured move is to 1.618 fib of 34k and it will get there quick if the move plays out.
3) CME is trading higher than spot: institutional buyers are willing to pay a premium for immediate exposure indicating that smart-money feels a move is imminent.
4) Dollar Index looks terrible and is dropping: giving BTC room to spread it's wings.
Happy hunting!
Note
correction on point 1: grind below 200ma not 50ma attracted the bears. Currently doing exact same thing to fill the rest of the bears desires grinding under the 50ma, before mass liquidations can begin.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.