BITCOIN UPDATE
BTC still failing to break above daily resistance and still providing us with a nice correction since its recent bullish impulse, on lower timeframes we can see on the 1hr this big inverted head and shoulders and on the right shoulder a channel is forming... I think market has trapped alot of bulls with the big fakeout to the upside im expecting to see atleast a fall to the lower trendline of this channel and possibly a fake breakout below it, there are a tonne of stop orders from leverage positions below this zone which the market is likely to hunt Before making the intended move to the upside, if the market makes this move to the downside to collect the liquidity this will give us a very nice entry to long.
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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.