BTC failed to fill the cme gap and is going up. BTC must return to fill the gap.
Bullish view, BTC will touch the supply line and go down again to close the gap then will shoot up to 9.4k over the period of two weeks.
Bearish view, BTC will overshoot the supply line but peak lower then the last peak then tumble down in almost a diagonal line to 6.2k.
If BTC keep going straight up to the supply line, it bearish . If BTC takes a couple of days to meet the supply lines, it is bullish . The difference between going to 9.4k or droping to 6.2k is BTC forming a W bullish pattern or an M bearish pattern.
Bullish view, BTC will touch the supply line and go down again to close the gap then will shoot up to 9.4k over the period of two weeks.
Bearish view, BTC will overshoot the supply line but peak lower then the last peak then tumble down in almost a diagonal line to 6.2k.
If BTC keep going straight up to the supply line, it bearish . If BTC takes a couple of days to meet the supply lines, it is bullish . The difference between going to 9.4k or droping to 6.2k is BTC forming a W bullish pattern or an M bearish pattern.
Note
target reachedNote
9.5k on January 31st.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.