Bitcoin Futures Idea

If we look objective, without in mind bitcoin is now testing the all time high region, we need to keep in mind there is still a gap below us. Bitcoin history tells up these close sooner rather than later. Also there is a big wick at the low 49's. This is speculation it could be that we go down there to grab this liquidity before going higher.

But for this to happen we need a black swan event. Keep in mind that the war in the middle east is ongoing and that the yields are rising as we speak. I still believe the FED cut rates too soon and too much. I am a bull in the long run for Bitcoin, but the economic situation isn't healthy at all so in the short term, with all the above kept in mind, I am sceptic about price development to the upside. So I'm slightly bearish.

Also I see a big cup and handle pattern forming. If you look on the weekly you can see it very clear. We're at the top of the cup and we're at the start to form the handle of this pattern, so this also would make sense if we go lower from here. Let's see!