We have seen the bearish breakout yesterday at 8500 area. It indicates the sellers got control of the price and the BTC fall continued. We did not see any completed bullish bar since yesterday on 4H chart. It is expected that the more sellers will join this selling momentum and the BTC price will go downwards. The next structure low is at 6000. This is where sellers most likely lock their profits and new buyers step in. It will create a long opportunity.
In addition, there is a potential bat pattern on an H4 chart. If the price completes the last leg of this pattern, this will give a exact guidance for entry and exit. Wait for the market to touch 88% Fibonacci retracement (Bat entry point) to get the nice risk/reward ratio trading setup.
T1 - 38.2%
T2 - 61.8%
In addition, there is a potential bat pattern on an H4 chart. If the price completes the last leg of this pattern, this will give a exact guidance for entry and exit. Wait for the market to touch 88% Fibonacci retracement (Bat entry point) to get the nice risk/reward ratio trading setup.
T1 - 38.2%
T2 - 61.8%
