BTC Outlook - Entering massive resistance

20 มี.ค. 2023

Here's a quick look at the daily BTC chart.
The current market conditions suggest the price may close the CME gap between 27.4k and 29k!
However, it's important to remember that CME gaps tend to get filled eventually, and the price may return to its previous level. Additionally, traders should consider the fair value gap between 22k and 23.7. These gaps tend to get filled at some point as well!

The price has entered a significant resistance zone, which could be a major obstacle. Nonetheless, if the price breaks above this zone, it could reach around 31k and go even further!

Also, this kind of price action is tough to predict. With a series of lower lows and higher highs, the bulls and bears are getting rekt simultaneously!

Traders should consider all these factors (the CME and fair value gaps!) when making decisions based on current market trends!
-------------------------------------------
Key Dates to Watch in March:

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!