Will the CME Gap save BTC?

5 déc. 2021

BTC /USD (Daily)

Bearish Case played out
- Possible retrace to 0.618 Fib ✅
- Wiped out many overleveraged longs. ✅

Bullish/Neutral Case
- Large CME Gap created at approx. 53.5k which will eventually get filled.
- Possible Cup and Bigger Handle
- Seem to have found Support at approx. the 49.5k area which is previous resistance now turned to support, also the 0.5Fib
- Wicked passed and bounced from the 0.618 Fib Retrace
- MACD /Signal and Histogram reversing
- VPVR shows a lot of support all the way down to approx. 45k.
- Fear And Greed Index is now 18.

Bearish Case
- VPVR shows a lot of resistance at $53.5-57k
- Below the 200EMA and has to reclaim.
- Broken out of the Re Trendline

Thoughts?

6 déc. 2021

Note

Let's see if break up from this Ascending Triangle...