Most people are watching a triangle formation in $BTC. We are taking a slightly different approach. We are watching 10,700 in $BTC futures. We watch futures because that is what the institutional funds may need to pour into if equities turn lower or if equities go sideways.
As you can see on the chart, the top Fib speed resistance line has provided resistance on five different occasions. To us, the fact that BTC futures hover just below the resistance is a sign that Bitcoin can eventually take the level out. That said, we have to be disciplined and stay neutral for now. But we are ready to get mega bullish on the breakout.
As you can see on the chart, the top Fib speed resistance line has provided resistance on five different occasions. To us, the fact that BTC futures hover just below the resistance is a sign that Bitcoin can eventually take the level out. That said, we have to be disciplined and stay neutral for now. But we are ready to get mega bullish on the breakout.