A Bearish Tweezer top on weekly and BTC under the 50 and 200 MA resistance indicates a potential bearish reversal
Hence id the expect more downwards action on the upcoming weekly candle
Hence id the expect more downwards action on the upcoming weekly candle
Note
Tweezer definition Poached from investopedia:Understanding Tweezers:
Tweezer patterns are reversal patterns and occur when two or more candlesticks touch the same bottom for a tweezer bottom pattern, or when two or more candlesticks touch the same top for a tweezer top pattern.
Tweezer bottoms are considered to be short-term bullish reversal patterns, whereas tweezer tops are thought to be bearish reversals. Essentially, with both formations, either buyers or sellers were not able to push the top or bottom any further. Both types of patterns require close observation and research to be interpreted and used correctly.
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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.