Since the end of January 2025, BTC has been in a downtrend. However, over the last couple of weeks, BTC has been following an upward trend (rising wedge). This rising wedge has now been broken, as it tested the downward sloping trendline that has been in place since the end of January.
On the daily timeframe, the Stochastic RSI is crossing down from the overbought zone, indicating that the momentum is shifting to the downside. This suggests that bearish pressure could persist in the coming days or even weeks.
While it is possible that BTC could recover from this level and target higher prices. however, my base case is that BTC will continue to form a bearish structure over the next few days or weeks, potentially making a higher low or even a lower low. Time will reveal how the price action unfolds. Until then, the bias remains bearish unless proven otherwise.
It is important to be aware of your risk management when opening positions at this moment, as market conditions can be volatile and unpredictable.
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On the daily timeframe, the Stochastic RSI is crossing down from the overbought zone, indicating that the momentum is shifting to the downside. This suggests that bearish pressure could persist in the coming days or even weeks.
While it is possible that BTC could recover from this level and target higher prices. however, my base case is that BTC will continue to form a bearish structure over the next few days or weeks, potentially making a higher low or even a lower low. Time will reveal how the price action unfolds. Until then, the bias remains bearish unless proven otherwise.
It is important to be aware of your risk management when opening positions at this moment, as market conditions can be volatile and unpredictable.
Thanks for your support.
- Make sure to follow me so you don't miss out on the next analysis!
- Drop a like and leave a comment!
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🔸 Free trading Discord
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🔹 Free trading signals
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discord.gg/fVfJHHQSMG
🔹 Free trading signals
t.me/CandleCollective
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.