Bitcoin has broken out of balance and is finding resistance.
If it can't find support at $34K and beings to trade below the January 24 low at $32.9K. I'm looking for it to trade down to $30K - $28.5K to find new buyers.
NQ is back in a previous balancing area 12680 - 13300 where it spent nearly two months last year. We'll either find balance again in this range before breaking out higher or lower or we could find new buyers for rotation back up. Look for support above the HVN at 12860.
We traded to the opposite end of balance. If we gap down in Friday's RTH open look for the repair of the poor low at 4364.5. Spike rules are in play for Friday.
The S&P 500 futures contract is currently in balance. This is a sign of indecision in the market.
Balance always leads to excess to either the upside or downside. If we break above 4455 and find support we'll break out higher. If we trade below 4377 and find resistance above we'll trade lower. Note that both a look above fail and a look below fail are also in play.
Balance always leads to excess to either the upside or downside. If buyers can take price above $48K and find support look for it to head up toward $57K. If we break below $39K and find resistance. Look for support at $34K.
