FOOT
Looking at possible retrace for bitcoin based on March futuresWhile spot/perps did not hit the holy $50000, many March futures did.
Mostly complete list of exchanges that breached $50000:
Deribit
OKEx
Huobi
Binance
FTX
BitMEX
Surprisingly, CME and Bakkt's March futures were unable to break over $50000. CME's June contract did, however.
REASONING
Futures play a huge role in leveraged trading. I have seen this happen with OKEx's quarterly contracts before. I don't expect a drop to doom, but I also do not expect bitcoin to rush into $50000 within the next few days.
Invalidation if March futures run 50k again and bring spot/perps along with it. Unsure of short target, would likely be ideal to buy the dips.
BULLISH - above t-line & 20ma - WATCH w/InterestAbove 72p we will break out as that is resistance at moment.
any re-test of the trend line or 20ma will be an opportunity
Unbiased view and looking to enter soon.