Bitcoin is rejecting Higher Prices and creating Lower Highs. BTC is simultaneously holding a flat support level at 26,600 4Hr level as we can observe here.
Price is squeezing downwards but the bottom is remaining flat at our 26,600 4Hr level. Soon this pressure may burst up or down and I'd bet on more downside.
This Price action/Multi-timeframe analysis details a bearish market.
Bearish Market Structure has Lower Lows and Lower Highs.
Bullish market Strucutre has Higher Highs and Higher Lows.
The Weekly timeframe is printing multiple bear candles. We are also creating back to back descending wicks on the Daily timeframe. This denotes a market that is in momentum.
Looking for lower prices here. Will Update.
Safe Trading.