Quote from: exstasie on May 13, 2020, 05:50:53 AM

Quote from: dmwardjr on May 13, 2020, 02:08:46 AM

BTCUSD: Possible $1,500 Move to the Upside Within Next 22 hours. https://www.tradingview.com/chart/BTCUSD/cxWEXs8p-BTCUSD-Possible-1-500-Move-to-the-Upside-Within-Next-22-hours/

Interesting. Regarding the CME gap, we should note that a similar downside gap in March wasn't filled for 2 months. There was a 57.5% drawdown during that time.

I'm skeptical until the market recovers above the May 10th selloff candle ($9,565 Bitstamp). That was the highest daily USD volume we've seen since the March crash, which could indicate trend exhaustion. With no strong engulfing candle from bulls like March 30th or April 16th, and with bears barely shorting the market anymore, I need to see more evidence before assuming bullish continuation.

Until we actually break the yearlong stretch of lower highs with authority, a re-accumulation phase looks very possible to me:

Quote from: exstasie on May 11, 2020, 11:25:34 PM

Hi Exstasie,

Understand your caution...

BTCUSD - "My Argument for Upward Pressure DURING a Block Halving Event." https://www.tradingview.com/chart/BTCUSD/p2WXasii-My-Argument-for-Upward-Pressure-DURING-a-Block-Halving-Event/