Bitcoin still on DOWNTREND (Bearish)
Updated
Once the price action is still below the supply zone and the general trend is downtrend, we can consider any asset with this condition still in a bearish scenario.
Bitcoin for the pass few days break the support in 29K and now playing within this range and below our SUPPLY ZONE.
We need a break of structure and hoping that will break the supply zone in 32K to consider that BTC will now in a reversal trend.
Once its touch only the SUPPLY ZONE and still reverse for a downtrend, the trend will continue
Bitcoin for the pass few days break the support in 29K and now playing within this range and below our SUPPLY ZONE.
We need a break of structure and hoping that will break the supply zone in 32K to consider that BTC will now in a reversal trend.
Once its touch only the SUPPLY ZONE and still reverse for a downtrend, the trend will continue
Note
Still bearish,Moving averages still act as a resistance
our QQE mode indicator still on RED bars meaning bearish momentum
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.