BTC undervalued relation to CME market

BTC-undervalued-relation-to-CME-market

Looking at the ratio of BTC to Futures & Options OI (CME), it is clear that BTC is still highly undervalued locally. There are three possible scenarios for the development of events: 

1) Bullish scenario. At the moment, the indicator has bounced off the direct support. If the ratio indicator breaks the downtrend line, forming a kind of bullish wedge, then we return to impulsive growth; 

2) Neutral bullish scenario. The ratio indicator slides into the main support corridor and implements re-accumulation; 

3) Bearish scenario. The ratio indicator breaks through the corridor of the primary support and fixes below it; then, a very unpleasant downtrend is unfolding.