Yesterday BTC failed to make a HH and instead formed the right shoulder of a massive H/S formation from a 1D perspective showing clear signs of topping out - yesterdays daily candle was a strong high volume bearish engulfing which took out the lows from an intraday perspective, this shows us momentum is now with the bears, with inflation data later today, we will be patiently waiting for a retracement move into the identified zones of confluence before we look for entry confirmations to short
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.