🔍 Disruption of the Current Bearish Setup:
1. Mislabeling of Levels:
The chart labels a newly broken support as "Support" still, even though price has clearly broken below that zone.
In proper technical analysis, once support is broken, it often turns into resistance, so the labels should be reversed.
2. Premature Downside Projection:
The bearish arrow assumes continued downside immediately after the breakdown, but there’s no confirmation candle or retest yet.
This could easily be a false breakdown or a liquidity sweep below support before a bounce.
3. No Confirmation from Volume:
Volume spiked on the breakdown, but the follow-up candle doesn’t confirm seller continuation.
Absence of sustained volume makes the move questionable. It could be a trap for breakout traders.
4. Lack of Trend Context:
The chart doesn't consider the broader trend. If BTC was in a strong uptrend before this pullback, this could be a bullish retracement, not a true reversal.
Drawing a trendline or checking a higher timeframe would help validate the direction.
1. Mislabeling of Levels:
The chart labels a newly broken support as "Support" still, even though price has clearly broken below that zone.
In proper technical analysis, once support is broken, it often turns into resistance, so the labels should be reversed.
2. Premature Downside Projection:
The bearish arrow assumes continued downside immediately after the breakdown, but there’s no confirmation candle or retest yet.
This could easily be a false breakdown or a liquidity sweep below support before a bounce.
3. No Confirmation from Volume:
Volume spiked on the breakdown, but the follow-up candle doesn’t confirm seller continuation.
Absence of sustained volume makes the move questionable. It could be a trap for breakout traders.
4. Lack of Trend Context:
The chart doesn't consider the broader trend. If BTC was in a strong uptrend before this pullback, this could be a bullish retracement, not a true reversal.
Drawing a trendline or checking a higher timeframe would help validate the direction.
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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.
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.