BTC from a weekly TF looks very bearish with signs on the daily with price beneath the 8EMA and very bearish candle formations. (Don't want to dwell too heavily on the D TF bear candles as they aren't formed at the top of an uptrend)
Lower timeframes are where we can see potential counter trend line breaks and bear candle formations which are indicators for a push lower
My weekly at 45500 must be broken for me and retested for a swing trade entry to first target 44000 followed by 42000 (Mother candle wick)
Could we see a double bottom push back up? Maybe hence the wait on a break/retest.
Very technical outlook
Lower timeframes are where we can see potential counter trend line breaks and bear candle formations which are indicators for a push lower
My weekly at 45500 must be broken for me and retested for a swing trade entry to first target 44000 followed by 42000 (Mother candle wick)
Could we see a double bottom push back up? Maybe hence the wait on a break/retest.
Very technical outlook
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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.