BTC Bearish engulfing and divergence. Friday close imo is the most important close of the week along with the Monday open.
Why is this a case Friday lines up with big picture ideas that form market structure such as.
-major support/resistance
-key weekly close pivot points
-risk off limit over night/weekend exposure
-weekly rebalance
CME trade a 5 day chart as opposed the BTC 24/7 trading on the open market, traders that trade on CME futures traditionally have higher technical trading knowledge and greater funded accounts than retail.
I have notice bearish divergence on the POC from binance opposed to CME charts this could be due to 24/7 trading on binance and their wash trading algo's and as the overall trend is still positive trading over the weekend and into Monday open I see the above as bearish momentum and I'll be going against the trend until the POC is reclaimed.
trade in validation 31200, this is a key area to go long for new high's break outs
target 27900 as this is a key value area