BTC about to go lower?
Good morning traders.
Over the weekend BTC did not hold 41k which was the best case scenario for continuation to the upside.
In my opinion there's a key level to look up to now: around the S1 Daily pivot, with a wick down to ~35800.
Notice the clear spike in volume on the Jan 24 candle, and then again on Feb 24. To me, those wicks are clear demand strutures and since the Feb 24 candle touched the middle line of the January candle wick demand struture, there's reason to believe the same can occur again, correlating with the S1 pivot area and the rising support line.
Over the weekend BTC did not hold 41k which was the best case scenario for continuation to the upside.
In my opinion there's a key level to look up to now: around the S1 Daily pivot, with a wick down to ~35800.
Notice the clear spike in volume on the Jan 24 candle, and then again on Feb 24. To me, those wicks are clear demand strutures and since the Feb 24 candle touched the middle line of the January candle wick demand struture, there's reason to believe the same can occur again, correlating with the S1 pivot area and the rising support line.
Related publications
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.