Bitcoin bulls have continued to impress, hitting another new 2019 high today of $9,430. Daily volume is steady. For the bulls to continue their run, we need to see at least a 4 hour candle open and close above $9,400.
Shorts have spiked nearly 50% in the last 10 days. This would suggest bitcoin may have more room to run in the form of a short squeeze.
Looking at the CME Futures chart, we’ve discussed the gap between $7,200 and $7,450. We’ve got another fresh gap between $8,500 and $9,050. Probability is price will eventually drop to close these gaps. That said, it doesn’t mean bitcoin won’t continue up first.
In today’s video I discuss where price may be heading next, key areas to watch, traps to avoid, buy/sell targets and so much more. I hope you find it helpful.
If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
If you found this post informative, please:
Open a free account on Binance here:
Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here:
Feature Image By: Saul Gravy