Bitcoin has recently formed a CHOCH after a corrective move and is currently trading within the previous Order Block.
In the short term, price may push upward to test the first Order Block and retrace, or extend higher into the second Order Block, aligning with the 50% FVG level, before a potential pullback.
The broader market outlook remains bearish, targeting the predefined downside levels.
However, if Bitcoin breaks above 121,166 with a strong bullish candle, this scenario would be invalidated, and a bullish trend shift could begin.
In the short term, price may push upward to test the first Order Block and retrace, or extend higher into the second Order Block, aligning with the 50% FVG level, before a potential pullback.
The broader market outlook remains bearish, targeting the predefined downside levels.
However, if Bitcoin breaks above 121,166 with a strong bullish candle, this scenario would be invalidated, and a bullish trend shift could begin.
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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.