Bitcoin: Is This Rally Sustainable?
A Look into Spot and CME Futures
Hello Traders,
Today, we're diving into Bitcoin, which has recently experienced an explosive 31% rally from the $50,000 weekly area. This surge has been nothing short of remarkable, and it's easy to see why many are feeling the FOMO, rushing to join the move. But the real question is, is this rally sustainable?
Approaching a Key Resistance Zone
As Bitcoin continues to climb, we're nearing a critical resistance area that could determine the next major move. While the momentum is strong, it's essential to remain cautious. In today's post, I'll be breaking down the key levels we're watching, the potential resistance zones, and what could happen if Bitcoin fails to push through these areas.
Video Analysis: Spot vs. CME Futures for Confluence
Join me in the detailed video below, where I'll not only cover the specific areas to watch for potential resistance but also dive into both Bitcoin Spot and CME Futures. By analyzing these two markets together, we can provide the best possible confluence to give you an edge in the market. Understanding the dynamics between Spot and Futures markets is crucial in identifying potential turning points and making informed trading decisions.
Understanding My Charts
If you're new to my analysis or need a refresher, I've included a link to my Legend below. This guide will help you interpret the colors and annotations on my charts, ensuring you're fully equipped to follow along with the analysis.
CLICK HERE FOR POST ON LEGEND
What’s Coming Next
Don't miss my recent post on the NASDAQ, specifically focusing on QQQ, and stay tuned for upcoming analyses on other high-interest stocks and the S&P 500. These posts will provide you with a well-rounded view of the current market landscape.
Don't forget to subscribe so you can get alerts on the markets we are watching so you don't miss a thing, and let's continue to conquer these markets together!
Cheers,
Ryan Bailey
VICI Trading Solutions