UPD on BTC for May 17: the start of working out the P&P with a target of $73,635 has been confirmed. They indicated a restructuring of the figure on May 15th.
The key thing to keep in mind is that while the price is above the EMA of the 50 day TF (currently $63,595), the#BTCrate is on the way to a new ATH.
It is confusing that there has not yet been a retest of the breakdown of this EMA. Also, on the daily TF there was no retest of the breakout of the pGiP neck line. It wasn’t on the younger TFs either - four-hour, two-hour. These are arguments to see a decrease in price, a partial correction of the momentum on May 15th. Considering that it’s heading into the weekend (increased risk of price manipulation), we shouldn’t discard the downward scenario. But as long as the price is above the volume level of $65,891, this scenario will not start.
Today's daily candle can still organize a bullish absorption. Also, a very bullish signal for growth without a retest of the breakdown of the neckline of the PG&P would be the body fixing the daily candle above the volume level of $67,088. On the#BTCfutures chart on the Chicago Mercantile Exchange, the price is approaching the remainder of the unclosed gap, $67,335-$67,440. Its closure and the reaction of buyers and sellers to it will be an important moment.
The BTC price volatility index has taken a short break in growth over the past two days, but the upward trend is clearly in force. If the Index has a range today and over the weekend, then, as was written on May 15, then we expect a sharp surge in volatility. Which will provide a#BTCdaily candle immediately within a range of 8-10%.
