BitcoinShort
1HR BTCUSD
1HR BTCUSD
Overall bias is bearish
Price has been bearish since 3rd week of August by creating falling wedges every week. Since last Thursday price moved in a bullish run breaking 1 hr zones.
Currently price is creating a right shoulder/HL between 0.61 to 0.5 fib levels.
As of date price has not broken or reached 0.75 fib level. Price may slowly push up to retest the wicks inside the previous bearish OB. I’ll wait and see if price breaks the 1 HR zones like it did with the 2 bearish institutional candles between the bearish OB areas on 08/26. My TP 2 area is slightly less than 50% the bullish engulfing from earlier just before it retests the previous bullish OB.
Overall bias is bearish
Price has been bearish since 3rd week of August by creating falling wedges every week. Since last Thursday price moved in a bullish run breaking 1 hr zones.
Currently price is creating a right shoulder/HL between 0.61 to 0.5 fib levels.
As of date price has not broken or reached 0.75 fib level. Price may slowly push up to retest the wicks inside the previous bearish OB. I’ll wait and see if price breaks the 1 HR zones like it did with the 2 bearish institutional candles between the bearish OB areas on 08/26. My TP 2 area is slightly less than 50% the bullish engulfing from earlier just before it retests the previous bullish OB.
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