BTC - A very hard market to predict!
Updated
Here's a quick look at the 8 hr BTC chart. As we can see, the price has been oscillating within the bigger broadening wedge. This kind of price action is tough to predict. The CPI data came in low at 6.0%, which pumped the whole market.
With a series of lower lows and higher highs, the bulls and bears are getting rekt simultaneously!
If the price stays within the broadening wedge, the next logical move would be to the downside! But you never know!
Also, the fair value gaps will get filled at some point. Therefore we should expect a move to these levels at some point!
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Key Dates to Watch in March:
15 Mar: PPI Data Release
21/22 Mar: FOMC Meeting
30 Mar: GDP Report
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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!
With a series of lower lows and higher highs, the bulls and bears are getting rekt simultaneously!
If the price stays within the broadening wedge, the next logical move would be to the downside! But you never know!
Also, the fair value gaps will get filled at some point. Therefore we should expect a move to these levels at some point!
-------------------------------------------
Key Dates to Watch in March:
15 Mar: PPI Data Release
21/22 Mar: FOMC Meeting
30 Mar: GDP Report
-------------------------------------------
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!
Note
Looks like the price is getting closer to the fair value gap as expected! Note
Keep an eye on DXY - if DXY goes up, then BTC is going down
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