Bitcoin (BTC): Weekly Looking Bearish

2 Eyl 2024

Last week we had good pressure from sellers where bullish movement that happened the week before that got rejected fully.

This is a great confirmation for a possible further downward movement where we see a great demand.

Out gameplan is simple here, and this would be as it is called "worst-case scenario.".

Swallow Team

2 Eyl 2024

Not

The daily timeframe is looking good as well, where we broke fully that 200EMA and exited the zone of chaos.

This is a great start of the week and if we manage to close this weekly opening candle (daily) below that EMA, we will be seeing some good moves to lower zones!

3 Eyl 2024

Not

200EMA has shown again it's dominance by sellers where buyers got supressed by that zone and got rejected!

We are looking now for the daily candle to close below or near the previously daily opening price and a possible start of downward movement should happen!

4 Eyl 2024

Not

Bitcoin is breaking local lows where price has fully secured the zone of EMAs and we can call it now a good zone of "re-test" instead of "chaos.".

We are looking here for our next movement towards 50K so eyes on lower zones now.

Each daily candle that closes in red or suppresses the bullish move with a big wick is another confirmation for us!

5 Eyl 2024

Not

Bitcoin continues to show the pressure from sellers, where slowly but steadily we have been seeing lower lows form here where each bullish momentum has been suppressed so far.

While price is moving slowly here, we are expecting some sudden movement to happen, which could be described as liquidity hunting!

6 Eyl 2024

Not

Whole week, sellers have been dominating the markets, where at the end of each day we see that sellers are in control of the markets.

We are looking now for price to secure this zone on a bigger timeframe (weekly), where price is now entering a volatile weekend market.

If we stay near current zones, then your lower target will be recovered easily, but if we see any smaller recovery, then we might have to wait longer for the drop!