SYN about to trap some bulls
We've entered the orange structure and overshot our normal target due to consolidation in the B phase. However, the red sequence started prematurely, turning before reaching the reversal zone. This suggests the current structure may not follow typical patterns.
The forming green structure, with constantly lower lows in the X phase, is concerning, especially given Synapse's relatively new data and the untested equal lows acting like a magnet for liquidity.
Given my outlook on Bitcoin falling further, I expect the green structure to fail and the range low to be taken out before any bullish structures form. So, I'd advise caution: wait and see how the market reacts at the range low. Once we see a bullish structure, then it's time to trade. For now, patience is key.
The forming green structure, with constantly lower lows in the X phase, is concerning, especially given Synapse's relatively new data and the untested equal lows acting like a magnet for liquidity.
Given my outlook on Bitcoin falling further, I expect the green structure to fail and the range low to be taken out before any bullish structures form. So, I'd advise caution: wait and see how the market reacts at the range low. Once we see a bullish structure, then it's time to trade. For now, patience is key.
Here, I share my market outlooks, highlighting key levels and directions I'm watching. This isn't financial advice—just my perspective. Don't follow blindly; always do your own research.
Here, I share my market outlooks, highlighting key levels and directions I'm watching. This isn't financial advice—just my perspective. Don't follow blindly; always do your own research.
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