This is an Update for previous analysis.
After the test of $7200, BTC got rejected but in the way of dump, Open Interest stands still.
I am bearish as long as BTC is below $7400. but if a 12hour candle closes above it then the test of $7800~$8000 is more probable.
The weekly chart shows the potential of shooting star candle right below a resistance zone as long as the bearish cross of EMA(21) and EMA(55).
The 2D chart confirmed Death Cross and Cross test on Spot and CME charts.
There is a potential Trap in this area because the Open Interest and Volume doesn't confirm any Major Break in this area. but the Volume is quite mature as it stands. So a major move is near and coming.
After the test of $7200, BTC got rejected but in the way of dump, Open Interest stands still.
I am bearish as long as BTC is below $7400. but if a 12hour candle closes above it then the test of $7800~$8000 is more probable.
The weekly chart shows the potential of shooting star candle right below a resistance zone as long as the bearish cross of EMA(21) and EMA(55).
The 2D chart confirmed Death Cross and Cross test on Spot and CME charts.
There is a potential Trap in this area because the Open Interest and Volume doesn't confirm any Major Break in this area. but the Volume is quite mature as it stands. So a major move is near and coming.
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