BTC/USD- Struggle for the Bulls
Hi guys. This is the new update after the previous bear flag broke down.
I am still pretty bearish on BTC these few days. Reason being that there's a lower low and higher low on the bigger time frame. This pattern usually constitute that the crashing pattern is still in play.
As you can see, the candle decided to close below the orange line (which constitute the July uptrend line) on the Daily time frame. This shows that the bulls have exhausted and ready for further break down.
A few more candle confirmation will required to short the market and a retest of the market structure (blue line @ $6,436) might eventually come true.
Thank You.
CK
I am still pretty bearish on BTC these few days. Reason being that there's a lower low and higher low on the bigger time frame. This pattern usually constitute that the crashing pattern is still in play.
As you can see, the candle decided to close below the orange line (which constitute the July uptrend line) on the Daily time frame. This shows that the bulls have exhausted and ready for further break down.
A few more candle confirmation will required to short the market and a retest of the market structure (blue line @ $6,436) might eventually come true.
Thank You.
CK
İşlem aktif
Break down has occurred after 30mins of this post. Good startNot
Probably a rising wedge on the 1 hour chart. Rising wedge is a bearish scenario. A breakdown of that wedge confirms bearish playout.
Not
Broke down the wedge. Short opportunity
Not
Potential big bear flag in play
Not
İşlem kapandı: hedefe ulaştı
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.