BTC Price Analysis: Key Technical Insights & Bearish Sentiment
Hello there,
BTC went down to 49221.93 and rallied up to 64133.59 for appears to be a B in a corrective wave. The higher low at 53315.24 creates the impression that price will continue bullish since to 49221.93, but that will need confirmation above (B) where in sits a supply zone.
Current candle structure does not support a strong bullish momentum but the break below of 57642.58 will be meaningful for any indication of bearish continuation.
The sentiment right now is highly bearish with two price targets for a bias of 31265.28
Summary : Current trend shows weak bullish momentum, and a drop below 57642.58 could indicate further bearish action, leaning strongly bearish toward even lower lows.
Happy Trading,
K.
BTC went down to 49221.93 and rallied up to 64133.59 for appears to be a B in a corrective wave. The higher low at 53315.24 creates the impression that price will continue bullish since to 49221.93, but that will need confirmation above (B) where in sits a supply zone.
Current candle structure does not support a strong bullish momentum but the break below of 57642.58 will be meaningful for any indication of bearish continuation.
The sentiment right now is highly bearish with two price targets for a bias of 31265.28
Summary : Current trend shows weak bullish momentum, and a drop below 57642.58 could indicate further bearish action, leaning strongly bearish toward even lower lows.
Happy Trading,
K.
Trade closed manually
Error: Length of date input invalid. :)
Happy trading
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.
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.