BitcoinShort
BTCUSD 15M TIME FRAME 7/25/2024
UPDATE TAKING PARTIAL SIGNAL WAS GIVEN YESTERDAY
BTCUSD on the 1-hour timeframe as of July 24, 2024 shows a clear redistribution phase indicating the end of wave 1 in the higher timeframe structure. The harmonic pattern confirms a bearish bias as a counter-trend move before potential correction of wave 1 to generate liquidity for higher levels.
Buying at present carries risk as a correction for wave 1 is anticipated, requiring careful risk management. Multiple technical indicators align to suggest a sell-off is probable in the near term, supporting a risk-off approach.
BTCUSD on the 1-hour timeframe as of July 24, 2024 shows a clear redistribution phase indicating the end of wave 1 in the higher timeframe structure. The harmonic pattern confirms a bearish bias as a counter-trend move before potential correction of wave 1 to generate liquidity for higher levels.
Buying at present carries risk as a correction for wave 1 is anticipated, requiring careful risk management. Multiple technical indicators align to suggest a sell-off is probable in the near term, supporting a risk-off approach.
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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.