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Did it Fail?Hello everyone, Some big red candles were formed today after touching the resistance line of the pattern. The bias is neutral since we are looking at a bullish flag and the price is forming good structures when going from a resistance to support. Also, we just touched the 0.5 Fibonacci level which is our strong support and the price is showing some rejection of it. The only reason that the bias might change is red candles, they are way bigger than green candles as you see in the chart below. However, if we want to look for a good buying area, we are looking at the area in the circle where the price might goes if it does not break the range we are in. Please comment if you have any questions.
by yassin_khanji
⚡️ #BTC OUTLOOK - 25/07⚡️⚡️ #BTC OUTLOOK - 25/07⚡️ Looking very bearish short-term with big bounce incoming. Currently in a smaller short-term range heading down back into the longer term range. That is sitting with a low of $20.3k - with a lot of uncertainty of theis weeks meetings and announcements, also earnings reports dropping I don't think it will all be priced in yet, also a lot of arm chairs traders will already be on high alert ready to sell so this will likely tip them over the edge to hit that Market Sell button. This lines up with the previous unfilled weekly pivot too. It is likely we will see a bounce here with a lot refilling their bags at this desirable $20k price point. I feel it will take off from here - even going as far to say that this could be the big turning point. Although breaking through the $20.3k or even $20k this time could spell a serious blood bath with sub 17.5k targets looking very realistic.
by Kryptochristian