10.8.2020 Update (Thu)
The big picture on the daily time frames
The ever changing battlefields on the hourly time frames
NEutrAL to bearish
Sentiment now mixed. CME gap from $10.47k was half closed yesterday to $10.54k, and still have potential to be filled in the next 48 hours. BTC kept the slow upward momentum yesterday, and we are still missing a 5th leg to the downside. Similar to yesterday, I do expect another small bearish push to 10.4k. This would push the Bitfinex and Ftx sentiment to the bearish side, fueling a bullish move afterwards. Do note, if BTC hourly closes above 10.7k today, the analysis above would be invalidated, as wave 4 rarely travels to wave 1 territory.