Feeding the bearish bias
Hopefully the plunge in price didn't took you by surprise.
Now that we hit a weekly order block which acted as resistance and support for a long time, things could get interesting.
A bearish retest to the top of this order block and then acceleration to further downwards action is in play.
Now that we hit a weekly order block which acted as resistance and support for a long time, things could get interesting.
A bearish retest to the top of this order block and then acceleration to further downwards action is in play.
Note
Bulls got faster in control than I thought. Because the bearish retest did not happen, we can see that some kind of bottom has formed around the 8.4k ish area. Now it definitely looks like it's going to pump again. So I guess there it was, our opportunity to accumulate some more sats before the next move up.Note
Played out with a bit of a lag. Now we can start to recover and start our way back up!
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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.