Will BTC Continue Correction to CME Gap?

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Haven’t posted about BTC in a long time, but I’ve been talking about this current action on my YouTube CryptoPro channel. The big question is, will BTC continue to sink down until we hit that CME gap, or is that out of play? About a week ago, I put the blue descending line on the chart. This was my prediction of what the price pathway would be centered on. But we quickly pumped above that line a couple of days ago, as the price line was pulled up by the Light Red 4.236 Magical Fib Circle Ring like the tractor beam in the US Enterprise had locked in on it. I thought we were headed to the crossing of that blue line, and the Red 2.618 fib ring. But it looks like the price line might stick to that Light Red 4.236 line. Where that ring intersects the Red 2.618 could be a target location for where the price heads. But we can also look for action when we go far right enough to make it to that Green 3.618 fib ring.

If you’ll look down below, you will notice that the OBV is experiencing a repeating pattern of slight rise and slight decline, with an overall downward bearish trend . Until we solidly break that trend, I’m of the belief that BTC is going to make it down to that CME gap. Lastly, the stochastic is relatively bearish with the downward slope through the neutral zone. It looks like the fast line might be ready to pass the slow line, but I don’t think it will last long and work out to be a reversal. Looking at the volume profile , my attention is on that cluster centered around 10,300. I think we are going to continue to get pulled towards that cluster. The next volume cluster after that is the one that would be right at the CME gap. Do you think that’s a coincidence?

Carlton Flowers
The CryptoPro

ANNOUNCEMENT: I’m back! I have been on a hiatus because I got a little upset with TradingView for punishing me, locking me down for 24 hours due to putting my YouTube links in my posts. I had no idea this was against the rules. I was told that if I pay for a Pro membership, I can post links. This made me mad, because I have been promoting TradingView for 3 years, “au gratis”. And they punished me for promoting my YouTube channel. I might upgrade in the near future so I can provide my YouTube links though, so we shall see. I will also share the link to my Telegram group (t . me/cryptoprocarlton) because I want you guys to come chat it up with me there. I really enjoy all of you and the discussions we have!