Who has the conviction? Buyers or sellers?

27 May 2020

BTCUSD

The stochastic is in position to reverse. Could go deeper to confirm macro down trend. Volatility is low and log returns as of late of nothing to get excited about.

Trading just below the 30 day ema moving toward the first standard deviation. Price action getting wedged into the March uptrend and the macro resistance around 10k.

It’s time for the bulls to step up. If price starts opening and closing below the first standard deviation, it back to the drawing board. Buying puts start to look attractive. I’d rather trade covered calls.

Where’s that big money??