We have a lot of bearish signs: trendline resistance being tested, bear flag on the 1h chart, death cross, low volume profile until 8.5k, etc. On the other hand, It is still possible for btc to breakout of the trendline towards the upside and retest the 10k - 10.3k region but less likely in my opinion. A trend reversal from the larger correction to bullish is also very unlikely to happen any time soon, we are likely going to get a bounce from the lower targets then a period of consolidation before the next rally up.
Short Term Target: 9350 - 9150.
Bounce Area: 8.5k - 8.8k
Short Term Target: 9350 - 9150.
Bounce Area: 8.5k - 8.8k
Note
we have broken out of the trendline, this definitely not strong enough to be anything of significance yet. The correction is still in play but maybe after another retest of 10.4k.Note
and we dumped $500 in a few minutes! either gonna continue the dump momentum right now or retest 9600 - 9700 and get rejected by end of today or tomorrow
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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.