A possible bullcase for bitcoin, the GME gaps. There are gaps around $20k, $27.5-28.5k and 35k. The gaps are the difference in price from futures close on Friday and futures open on sunday. These gaps tend to be "filled" next time the price action covers that area.
Considering the current price action, bitcoin has the possibility of filling the gap at $20k while it retests its current breakout, before proceeding to fill the $28k gap. If it fails the restest of $20k, we'll have to see if it can hold $19.5k. Personally I see the orange line playing out, where bitcoin retests $19.5k before it goes higher. Keeping an eye on the dollar. I feel like any sudden moves sends this back to <$21k.
Would be quite the bull trap if this goes to $28.5k before rug pulling for 2H 23. Getting interesting.
Considering the current price action, bitcoin has the possibility of filling the gap at $20k while it retests its current breakout, before proceeding to fill the $28k gap. If it fails the restest of $20k, we'll have to see if it can hold $19.5k. Personally I see the orange line playing out, where bitcoin retests $19.5k before it goes higher. Keeping an eye on the dollar. I feel like any sudden moves sends this back to <$21k.
Would be quite the bull trap if this goes to $28.5k before rug pulling for 2H 23. Getting interesting.
