Trend is confirmed bearish and has not formed bottoming patterns yet. Will probably drop to the bottom of the range at 45K. Price consolidated in this range before and I expect again a retest of the top of the range after 45K.
Visually, BTC looks set to form a double bottom at 43k, if this double bottom will result in a recovery or fails, we shall see. The failure to reach 55k is bearish since that meant that the run up from 43k was a short stop hunt and price will continue downward after having cleared these shorts.
Visually, BTC looks set to form a double bottom at 43k, if this double bottom will result in a recovery or fails, we shall see. The failure to reach 55k is bearish since that meant that the run up from 43k was a short stop hunt and price will continue downward after having cleared these shorts.
Note
managed to bounce, trend still bearish
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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.