CME Gap Closed On Bitcoin ! Let's see if price manages to s | Kryptomystic on Binance Square

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CME Gap Closed On Bitcoin !
Let's see if price manages to stay above it!

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BTC

89,975.47

-1.45%

364

0

Replies 0

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#BTC☀ 💰 After several days of trending down and fighting against the daily trend, we have expanded to the downside, trading around range lows. The daily chart points to three scenarios: 1. BTC holds the 200 EMA and bounces back to the daily trend, where the fight against the D1 trend should resume (blue). 2. BTC holds the 200 EMA, bounces to the D1 trend, reclaims it, and turns it into support (red). 3. BTC fails to hold the daily 200 EMA, sending prices lower (black). Keep in mind that the most important thing now is to hold the range lows and the D1 200 EMA.

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$BTC #Bitcoin Still trading inside a range between new ATH zone and low's 60k. D1 trend lost again ( 13/21EMA ) but since price is just ranging on the big picture we can't confirm that it's a "Market Structure Break" yet! For a confirmation of the MSB price needs to close below the 58K region. On bigger tf's ( 3Days / Weekly ) trend is still highly bullish and EMA's are catching up with price which can be seen as a healthy correction. Conclusion : Bitcoin needs to hold the range and reclaim back H4 and D1 trends.

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Entering a long scalp position for BTC/USDT at 67,800 with reasonable cross leverage. Targeting an initial goal of 70,600, with a second target to be determined later. The stop loss is set at 65,700. The current market formation on the lower timeframes looks promising, and there has been a reset in open interest. A chart update may follow to provide further insights into this trading strategy. Follow us for updates

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Big news from South Korea as the country tightens its grip on token exchanges! South Korea is set to introduce stricter regulations for token listings, especially targeting hacked tokens! Under the new guidelines, tokens with a history of hacking or unresolved security issues will be blocked from listing on exchanges. The Financial Supervisory Service has been working closely with exchanges to set these new standards, aiming to protect virtual asset users. These rules will also affect how tokens are delisted, especially if they don't meet disclosure obligations. Make sure to follow for the latest on how these changes will reshape South Korea's crypto market!

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#BTCUpdate I've been calling for this 64K region a few days before it came. However the dip might not be over yet! Funding is still bearish while we're slowly bleeding, which suggests that another flush down could happen to reset it. Spot trading lower than perpetual which also shows that market is still being pushed by leverage and spot buyers didn't step in yet. To make it simple : Close above 69K and we're back in the track. Close below 58.9K and we could see lower levels. Anything in between is just NOISE. At the end you don't need to be right or wrong as long as you benefit from these moves. $BTC

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