Lots of interesting stuff the swing fail didn't play out and instead got short squeezed this leg up took us right into the old CME gap from May what this means is that anything we do in here will probably cause a quick move to fill by monday the last few stops are just above us from 49.8 to 51.5 after that it's a straight shot to the April/May Monthly Open Whatever we do in here what matters is the market open. Still long from 38 and looking for the high timeframe move to see BTC go up and swing fail the May/April monthly opens.
if you believe the macro bottom is in. and that gaps get filled. would it not make more sense that the gap below gets filled first before btc just takes off into new highs. food for thought. the short squeezing has already happened
TrendmasterOfficial
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@Gunslinger2005, We've thought about that. Issue is that if you look at the massive walls that are/were in around 28 there was literally no chance of breaking through without some type of black swan event.
I'm a believer in gaps getting filled mostly because the levels coincide with daily, weekly, monthly opens as well as previous day/week highs and lows.
The problem with going down to fill the gap below us is that if we fill that, then it would be a clear break of structure to the downside. So market makers know they can't create a bearish structure but they can push it as far as possible while still maintaining a bullish structure.