BTC Futures. Bulls fade. Robust gain de-established.
Updated
BTC has reached the top around US$ 73700 on March 14, 2024 as it was clearly explained in previous publication.
Since that it's gone around 1 month till now, and no one new high was printed in BTC.
Bulls fade. Robust gain de-established. Upside bubble-alike trend transformed into detrend structure with flat top near US$ 73000 per BTC.
RSI (14) is sluggish also.
This idea is for b-adj CME’s Bitcoin futures contracts, ticker symbol BTC, which are a USD cash-settled contracts based on the CME CF Bitcoin Reference Rate (BRR), which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin.
The BRR aggregates the trade flow of major bitcoin spot exchanges during a one-hour calculation window into the U.S. dollar price of one bitcoin as of 4 p.m. London Time.
The Bitcoin futures contract trades Sunday through Friday, from 5 p.m. to 4 p.m. Central Time (CT).
A single BTC contract has a value of five times the value of the BRR Index and is quoted in U.S. dollars per one bitcoin. The tick increments are quoted in multiples of $5 per bitcoin, meaning a one-tick move of the BTC future is equal to $25.
BTC futures expire the last Friday of the month, and are listed on the nearest six consecutive monthly contracts, inclusive of the nearest two December contracts.
Technical graph indicates on a detrend structure, where near 73K per BTC is the Top, and near 55K is the target.
Technically, BTC can retrace to mentioned above level as it still below reasonable resistance.
Since that it's gone around 1 month till now, and no one new high was printed in BTC.
Bulls fade. Robust gain de-established. Upside bubble-alike trend transformed into detrend structure with flat top near US$ 73000 per BTC.
RSI (14) is sluggish also.
This idea is for b-adj CME’s Bitcoin futures contracts, ticker symbol BTC, which are a USD cash-settled contracts based on the CME CF Bitcoin Reference Rate (BRR), which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin.
The BRR aggregates the trade flow of major bitcoin spot exchanges during a one-hour calculation window into the U.S. dollar price of one bitcoin as of 4 p.m. London Time.
The Bitcoin futures contract trades Sunday through Friday, from 5 p.m. to 4 p.m. Central Time (CT).
A single BTC contract has a value of five times the value of the BRR Index and is quoted in U.S. dollars per one bitcoin. The tick increments are quoted in multiples of $5 per bitcoin, meaning a one-tick move of the BTC future is equal to $25.
BTC futures expire the last Friday of the month, and are listed on the nearest six consecutive monthly contracts, inclusive of the nearest two December contracts.
Technical graph indicates on a detrend structure, where near 73K per BTC is the Top, and near 55K is the target.
Technically, BTC can retrace to mentioned above level as it still below reasonable resistance.
Trade active
BTC Futures - below 60'000, breakthrough 50-Days flat support.Trade active
BTC Futures - below 60'000 again. Target comes closer.
Trade closed: target reached
July 5, 2024Target reached. BTC hit 55'000
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