Bitcoin (BTC) • From range into a correction while this...
Updated
Special celebration day because why not!?
Good opportunity to make another update on Bitcoin as we get out of the consolidation range under the 2021 yearly open and move into a more corrective move out of the ongoing daily and weekly trends.
In the video, we look into the technical structure that makes sense to me as a set of heuristics useful for deterministic bias and risk basis.
Overall I'm still looking at this through the lens of a corrective move in a wide uptrend per the criterium discussed in the video.
I didn't touch in this video that options pricing sentiment looks bullish for April and June. Futures have some ongoing natural short pressure as we approach the Quarterly derivatives settlement date.
Good opportunity to make another update on Bitcoin as we get out of the consolidation range under the 2021 yearly open and move into a more corrective move out of the ongoing daily and weekly trends.
In the video, we look into the technical structure that makes sense to me as a set of heuristics useful for deterministic bias and risk basis.
Overall I'm still looking at this through the lens of a corrective move in a wide uptrend per the criterium discussed in the video.
I didn't touch in this video that options pricing sentiment looks bullish for April and June. Futures have some ongoing natural short pressure as we approach the Quarterly derivatives settlement date.
Note
27.4 broken and UTC-overnight break above 28k key level as we return to the upper range of the consolidation on top of the daily/weekly trend.
Now I have to say the overnight move is impressive BUT I don't like the volume. Likewise, I am assuming we can perfectly well being sent back into the range as this turn turn out to be a faekout.
Main key levels to be watchful as control basis 28 (weekly doji range) and 27.4. (confluence of around 4 daily opens)
Options Nominal Open Interest raised to
4BN into the 31st Match. This 4H Momentum looking good . If there a pullback 28k that could be excellent long-side entry with stop/inval very close under it
Funding Rates are rising higher again which is not ideal in a bull scenario.
D7R
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