Bitcoin has confirmed a bearish shark harmonic on the intraday timeframe, indicating potential for a short-term correction. Volume remains average, with no signs of a short squeeze behind the move, increasing the likelihood of a reversal back into key volume zones.
Key Highlights:
Price testing the Value Area High — a key inflection level
Downside targets: Point of Control and 0.618 Fibonacci retracement
No short squeeze detected — risk of long squeeze triggering range rotation
Key Highlights:
Price testing the Value Area High — a key inflection level
Downside targets: Point of Control and 0.618 Fibonacci retracement
No short squeeze detected — risk of long squeeze triggering range rotation
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Stay sharp, trade smart.
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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.