Trend weakening, low volume during retests of major resistance ( 29k ), plus CME and Fair value gap below current price - all pointing towards the downside. Brace yourself for a possible return to 20k soon!
It's important to consider the unfilled CME- and Fair value gaps located below the current price. Typically, these gaps are eventually filled, so expecting a price retracement to those levels is reasonable. However, it's worth noting that filling such gaps could take a while, although they are usually filled relatively quickly.
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BTC - Dont turn bullish until this zone is broken!
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With regards to ALTs:
The Altcoin market cap is struggling to break the $620B mark. If breached, expect a surge in Altcoin activity. But remember, Altcoin performance is closely tied to BTC , so a dip in BTC price will hurt Altcoins too.
Keep an eye on the $620B mark if you're looking to trade some ALTs
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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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Follow me for daily profitable trading setups.
BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
It's important to consider the unfilled CME- and Fair value gaps located below the current price. Typically, these gaps are eventually filled, so expecting a price retracement to those levels is reasonable. However, it's worth noting that filling such gaps could take a while, although they are usually filled relatively quickly.
-------------------------------------------
BTC - Dont turn bullish until this zone is broken!
With regards to ALTs:
The Altcoin market cap is struggling to break the $620B mark. If breached, expect a surge in Altcoin activity. But remember, Altcoin performance is closely tied to BTC , so a dip in BTC price will hurt Altcoins too.
Keep an eye on the $620B mark if you're looking to trade some ALTs
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!
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