Bitcoin bearish Scenario :
Following the massive selloff a few days ago, Bitcoin is trading in sideways and we saw a small sell-off yesterday. However, The current chart looks bad since it confirmed my bearish scenario with 3 Major Confluence.
1- We confirmed the trendline breakdown with a retest and Rejection (The Black line)
2- We confirmed the Falling wedge Breakdown with a retest and rejection (The Red wedge)
3- We got exactly rejected at the Golden Fibonacci Pocket ( 0.35-0.382 Or The red Zone)
These are the 3 major bearish confluences i saw over the charts today after my vacation. I Recommend not to open any long positions until we invalidate our 3 Major Bearish Confluences.
Following the massive selloff a few days ago, Bitcoin is trading in sideways and we saw a small sell-off yesterday. However, The current chart looks bad since it confirmed my bearish scenario with 3 Major Confluence.
1- We confirmed the trendline breakdown with a retest and Rejection (The Black line)
2- We confirmed the Falling wedge Breakdown with a retest and rejection (The Red wedge)
3- We got exactly rejected at the Golden Fibonacci Pocket ( 0.35-0.382 Or The red Zone)
These are the 3 major bearish confluences i saw over the charts today after my vacation. I Recommend not to open any long positions until we invalidate our 3 Major Bearish Confluences.
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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.