BTC Outlook - The Trend is weakening!
Trend weakening, low volume during retests of major resistance ( 29k ), plus CME and Fair value gap below current price - all pointing towards the downside. Brace yourself for a possible return to 20k soon!
It's important to consider the unfilled CME- and Fair value gaps located below the current price. Typically, these gaps are eventually filled, so expecting a price retracement to those levels is reasonable. However, it's worth noting that filling such gaps could take a while, although they are usually filled relatively quickly.
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BTC - Dont turn bullish until this zone is broken!
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With regards to ALTs:
The Altcoin market cap is struggling to break the 620B mark. If breached, expect a surge in Altcoin activity. But remember, Altcoin performance is closely tied to BTC , so a dip in BTC price will hurt Altcoins too.
Keep an eye on the 620B mark if you're looking to trade some ALTs
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What's a Fair Value Gap?:
A fair value gap is the difference between a financial instrument's theoretical value and market value, such as a derivative or security. It can indicate a misprizing opportunity for traders to profit by buying or selling at the misprized level. In other words, there is a gap in the price in which some open orders still need to be filled. The price will return to fill the orders.
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If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups.
BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
It's important to consider the unfilled CME- and Fair value gaps located below the current price. Typically, these gaps are eventually filled, so expecting a price retracement to those levels is reasonable. However, it's worth noting that filling such gaps could take a while, although they are usually filled relatively quickly.
-------------------------------------------
BTC - Dont turn bullish until this zone is broken!
-------------------------------------------
With regards to ALTs:
The Altcoin market cap is struggling to break the 620B mark. If breached, expect a surge in Altcoin activity. But remember, Altcoin performance is closely tied to BTC , so a dip in BTC price will hurt Altcoins too.
Keep an eye on the 620B mark if you're looking to trade some ALTs
-------------------------------------------
What's a Fair Value Gap?:
A fair value gap is the difference between a financial instrument's theoretical value and market value, such as a derivative or security. It can indicate a misprizing opportunity for traders to profit by buying or selling at the misprized level. In other words, there is a gap in the price in which some open orders still need to be filled. The price will return to fill the orders.
-------------------------------------------
If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups.
BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
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