BTC1! short idea with open gap fill and catching a quick long
As you might know, open gaps have a fill-rate of 90-95%. Additionally the open CME-gap (1W-basis) has much confluence with important technical levels for support and it lies in the middle of two zones where enormous amounts of USDT-inflows came into the market.
1. the 2024-range (Q1 - Q3)
2. the 2025-range (Q1 at least)
Where the new neckline also is, the new support that became resistance appeared. It might also be a good strike for smart money to know that above the biggest orderblock of 2024 support has developed more strength and consequence. So why you don't give it a try to retest it?
Here a maximum of buying pressure should lead to a strong bounce of BTCUSD towards a new alltime-high, if and as long as global liquidity rises again. But if not, at least inflation should do half of the bullish job for BTCUSD and a "sideways up" would be my - historically BIASed - expectation.
It begins with a shorter short. In the end it might be a very, very quick longer long because of my expectation of rising buying pressure with huge volume delta for the bulls below 78k.
1. the 2024-range (Q1 - Q3)
2. the 2025-range (Q1 at least)
Where the new neckline also is, the new support that became resistance appeared. It might also be a good strike for smart money to know that above the biggest orderblock of 2024 support has developed more strength and consequence. So why you don't give it a try to retest it?
Here a maximum of buying pressure should lead to a strong bounce of BTCUSD towards a new alltime-high, if and as long as global liquidity rises again. But if not, at least inflation should do half of the bullish job for BTCUSD and a "sideways up" would be my - historically BIASed - expectation.
It begins with a shorter short. In the end it might be a very, very quick longer long because of my expectation of rising buying pressure with huge volume delta for the bulls below 78k.
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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.