April 22' CME Micro Bitcoin Futures Trend Analysis
Trendline – Drawn from the low made on Feb 24, connecting to the lows made on Mar 13 & 15.
MACD – Negative Divergence. Even though we made a higher high on Mar 28 than seen on Mar 2, there was a lower MACD produced. Usually we like to see the MACD make higher highs, as the underlying instrument makes higher highs.
Gap- The Gap created on Mar 27 has been filled. This needed to be done before we move higher.
Long Entry- If looking to get long, don’t chase this. 43,000ish would be a nice pull back, and it would also test the up trendline.
MACD – Negative Divergence. Even though we made a higher high on Mar 28 than seen on Mar 2, there was a lower MACD produced. Usually we like to see the MACD make higher highs, as the underlying instrument makes higher highs.
Gap- The Gap created on Mar 27 has been filled. This needed to be done before we move higher.
Long Entry- If looking to get long, don’t chase this. 43,000ish would be a nice pull back, and it would also test the up trendline.