Options and futures contract expiration every last Friday of the month may explain the zig-zag behaviour of the Market since more than 6 months ago.
As you can see below, vertical lines indicate the last Friday of every month, date of the BITCOIN Future Contracts expiration.
At the moment, we could say there is a direct relation between that dates and the end of the downtrend within the 2 lines of the trading channel, the lower line matches as well with the 50 DEMA on which BTC used to rebound these past months.
Will it happen again on April?
If so, there will be around 15 days of uptrend within the channel that would bring BTC to another ATH, followed afterwards by another correction as well.
@toofasteddie
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
Posted Using LeoFinance Beta
