The books show significant cluster of orders between 50 and 52k. Right after up to 60k not much (for the moment).
Which implies that a move very fast towards 60k could happen if we break 52k.
Swaps trading consistently above spot BUT similarly like in the previous bull run from 10k. We have Binance and OKEX perpetual swaps trading bellow.
This implies that there is good chance we can mark up from here. Despite this being natural range to be bearish.
I would expect a major correction possible toward 44-42k but perhaps that will happen after we retest 60k.
Unless we see a swing failure after 62k due to absence of strong liquidity above that range. I talk about this in the video.
Ultimately we should respect the trend. At the moment Daily, Weekly and Monthly are looking good.
Check the video for my detailed thoughts
Which implies that a move very fast towards 60k could happen if we break 52k.
Swaps trading consistently above spot BUT similarly like in the previous bull run from 10k. We have Binance and OKEX perpetual swaps trading bellow.
This implies that there is good chance we can mark up from here. Despite this being natural range to be bearish.
I would expect a major correction possible toward 44-42k but perhaps that will happen after we retest 60k.
Unless we see a swing failure after 62k due to absence of strong liquidity above that range. I talk about this in the video.
Ultimately we should respect the trend. At the moment Daily, Weekly and Monthly are looking good.
Check the video for my detailed thoughts
D7R
