BTC analytics, May 23
Greetings all!
As usual, let's start with the fundamentals. Market capitalization is 1140bn, BTC dominance index is 47.99%, fear and greed index is 50 (Neutral sentiment).
For the last two weeks, BTC has been traded in a channel between 26300 and 28300. These prices are very strong support and resistance levels. During the last Asian session, BTC rose sharply to 27500, forming a FVG (Fair Value Gap) zone on the 4H chart from 27000 to 27200. This level is bound to overlap by at least half. We will consider this range as an uncertainty zone.
If the price leaves the range stated above, we can model two variants of movement.
1. Downside
The price moves down from the current levels to the level of 27000, overlaps the FVG 4 and keeps moving towards the levels of 25800 - 26300.
2. Upside
The price moves from the current levels and corrects closer to the level of 27000, closes the FVG 4F and returns to the levels above 27200. A further move towards the 28300 level can then be considered. Further upside movement is possible only after 29000, as this move will prove to be an exit from the downward channel.
What to do?
1. Wait for decision levels to be reached
2. Watch the oscillators like RSI - look for overbought or oversold zones in the decision zones.
3. Take risks into account.
Be patient and profitable.
Always in touch,
Relictum Analytics
As usual, let's start with the fundamentals. Market capitalization is 1140bn, BTC dominance index is 47.99%, fear and greed index is 50 (Neutral sentiment).
For the last two weeks, BTC has been traded in a channel between 26300 and 28300. These prices are very strong support and resistance levels. During the last Asian session, BTC rose sharply to 27500, forming a FVG (Fair Value Gap) zone on the 4H chart from 27000 to 27200. This level is bound to overlap by at least half. We will consider this range as an uncertainty zone.
If the price leaves the range stated above, we can model two variants of movement.
1. Downside
The price moves down from the current levels to the level of 27000, overlaps the FVG 4 and keeps moving towards the levels of 25800 - 26300.
2. Upside
The price moves from the current levels and corrects closer to the level of 27000, closes the FVG 4F and returns to the levels above 27200. A further move towards the 28300 level can then be considered. Further upside movement is possible only after 29000, as this move will prove to be an exit from the downward channel.
What to do?
1. Wait for decision levels to be reached
2. Watch the oscillators like RSI - look for overbought or oversold zones in the decision zones.
3. Take risks into account.
Be patient and profitable.
Always in touch,
Relictum Analytics
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