BTC has been nicely in the channel for the last few days so much so that the supposed correction was only till 7.4k. In hindsight the 0.382fib level at 7.5k was more important than 6.3-6.5k range. The channel suggests the price will move higher which is supported by MACD crossovers in daily and monthly charts. RSI has also crept up nicely. This may just be beginning. Not being ultra bullish as of yet esp. since the volume has been low. Maybe tomorrows candle will have the volume. Optimistically targeting 9.6k from here.
There will be a correction of 25-30% down the line but that may be far as of now. If this wave subsides before reaching the top resistance line we may see that correction.
Funding rate on BITMEX is biased towards shorts but we may see some correction only after the upper resistance line has been hit.
There will be a correction of 25-30% down the line but that may be far as of now. If this wave subsides before reaching the top resistance line we may see that correction.
Funding rate on BITMEX is biased towards shorts but we may see some correction only after the upper resistance line has been hit.