CME Gap at 8550 has just got closed!

📌CME BTC Futures expire today at 4:00 p.m. London time

BTC update

We are still holding the support. Regained MA200 and now consolidating above it. Good sign

BTC 4h

The downward channel still relevant, especially its support line. Acting as a great Support/Resistance

BTC update

Like we had expected, we finally got a bounce to 9k area and currently sitting at 9.1k.

It seems like we are in the middle of nowhere
📍Next resistance is around $9350: 50-Day MA + 0.5 Fib + Strong Horizontal + High Volume Node on VPVR

BTC 4h update

Yesterday we broke the mid line of the downward channel, turned it into a support and now the logical continuation would be a move up to the channel’s resistance, which is in line with what we see on the daily chart - resistance cluster at ~9350

📉BTC took a real nosedive & just broke down $8200

⚠️CME Futures closed at 9170 on Friday, so there is going to be a HUGE Gap, which will be closed eventually

It took almost 60 days to fill that Gap at 7675

HUGE Gap will be filled eventually, but this can take some time

❗️BTC Broke Down 6k on spot market

Moreover we’ve got the state of backwardation

What Is Backwardation?
Backwardation is when the current price - spot price of an underlying asset is higher than prices trading in the futures market, and that’s when we should pay very close attention to it and consider entering a long position

🎯 BTC was fated to go below 6k and it has done it today
(check out our Trading View idea published on December 15th)

Open Interest above $1 billion once again has proven itself to be the best indicator to anticipate huge sell offs

📉 Friday’s market sell-off followed Wall Street’s worst day since 1987. Governments are worried that the global economy would plunge into recession, so they decided to deploy stimulus to ease virus damage:

⁃ Federal Reserve recently injected $500B into the financial system

⁃ China’s central bank launched $79B stimulus for virus-hit companies

⁃ Japan offered to provide as much as 2.2 trillion yen ($20.8 billion) of liquidity in three different operations

⁃ The Central Bank of EU decided to increase bond purchases by $132B this year
The money is newly created and injected into the financial system

⁃ South Korea printed $10B

⁃ Bank of England stimulus plan is $39B

⁃ Australia’s central bank injected $5.5 billion in its open-market operations, the most in at least seven years


The fiat paradigm is trying its best to put out the fire

Open Interest hit its lowest level since May 17th, 2019

We are running out of fuel⛽️

BTC: Are You Scared? Perfect!

https://www.tradingview.com/chart/BTCUSD/RAyDt78O-BTC-Are-You-Scared-Perfect/

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You can track data and try to apply your TA on it

​Quick BTC update

The price is being squeezed between these two MAs: EMA50 - supporting the price & EMA100 - rejecting the price. We can consolidate for some time in this range until we break out, so keep an eye on this

⚠️ Hidden bearish divergence present on the RSI

BTC 4h chart

💡It’s all about this pretty wide channel (almost $2k wide). We will stay inside for some time before a breakout

Pay attention to MA50 which is in line with the mid line of this channel = strong support

Resistance: EMA100. Next one is channel’s upper border line + EMA200

BTC 4h update

We reached the upper boundary of the channel and got rejected there

Right now we are dangerously sitting on the EMA100. Break this one and the MA50 here we go

BTC 4h update

We are still holding the EMA100, the volume is declining which precedes a spike in volatility
Bearish div present on the RSI

Breaking down the EMA100 would be a short confirmation