Overall swing structure of Bitcoin is sill bullish, but currently price is bearish in order to facilitate an internal structure pull-back. For Bitcoin to have a valid Break-Of-Structure, price have to retrace back to the discounted demand price zone of the previous valid Swing Break-Of-Structure ($63k - $55k zone).
However, when price get to this demand zone, the bulls have to hold this zone strong ,in order to have the bullish continuous price pattern... Once the bears take over all of this discounted demand zone again (i.e from near- extreme zone) that means the overall all swing structure have shifted from uptrend to downtrend.
NOTE; MS mean Market Shift. while BOS means Break-Of-Structure as used in the chart.
However, when price get to this demand zone, the bulls have to hold this zone strong ,in order to have the bullish continuous price pattern... Once the bears take over all of this discounted demand zone again (i.e from near- extreme zone) that means the overall all swing structure have shifted from uptrend to downtrend.
NOTE; MS mean Market Shift. while BOS means Break-Of-Structure as used in the chart.
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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.