Here's a quick look at the 8 hr . BTC chart. As we can see, the price broke below the rising channel and is currently on a mission to close the fair value gap at 18.2k! It has already closed the gap at 20k.
These gaps tend to get filled at some point! Also, the DXY is expected to rally from its current level - when the DXY goes up, the BTC price will go down!
I firmly believe the bottom will be close to the 10-12k area. We have yet to see the last capitulation, IMO, yet! Trade Safe!
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Key Dates to Watch in March:
10 Mar: US Non-farm Payrolls
10 Mar: Mt. Gox Distribution
14 Mar: CPI Data Release
15 Mar: PPI Data Release
21/22 Mar: FOMC Meeting
30 Mar: GDP Report
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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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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!
These gaps tend to get filled at some point! Also, the DXY is expected to rally from its current level - when the DXY goes up, the BTC price will go down!
I firmly believe the bottom will be close to the 10-12k area. We have yet to see the last capitulation, IMO, yet! Trade Safe!
-------------------------------------------
Key Dates to Watch in March:
10 Mar: US Non-farm Payrolls
10 Mar: Mt. Gox Distribution
14 Mar: CPI Data Release
15 Mar: PPI Data Release
21/22 Mar: FOMC Meeting
30 Mar: GDP Report
-------------------------------------------
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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