Here's a quick look at the 8 hr BTC chart. As we can see, the price has recently printed a Head & shoulder pattern. The head and shoulder pattern Is a bearish chart pattern with a high probability of breaking lower!
The market will take a hit if inflation is 6.4% or higher. Therefore keep an eye on the CPI data release!
If you're in a Long trade, a break below the neckline should be your exit/sell.
Also, the price has printed a massive fair value gap, which will likely be filled very soon. At the same time, the price has also printed a Big CME gap between 20k and 21k.
There's a lot of FUD atm due to the collapse of the silicon valley bank.
I'm expecting a move lower to at least 18k after the CPI data release - I may be wrong! Trade safe!
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Key Dates to Watch in March:
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.
-------------------------------------------
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!
The market will take a hit if inflation is 6.4% or higher. Therefore keep an eye on the CPI data release!
If you're in a Long trade, a break below the neckline should be your exit/sell.
Also, the price has printed a massive fair value gap, which will likely be filled very soon. At the same time, the price has also printed a Big CME gap between 20k and 21k.
There's a lot of FUD atm due to the collapse of the silicon valley bank.
I'm expecting a move lower to at least 18k after the CPI data release - I may be wrong! Trade safe!
-------------------------------------------
Key Dates to Watch in March:
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!
Catatan
Idea invalidated
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BTC updates, altcoin setups, key levels, targets & educational posts.
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BTC updates, altcoin setups, key levels, targets & educational posts.
🎖 Free Telegram: t.me/MBM_786kr
📩 To join Premium: DM @MBM786kr on Telegram
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.