BTCUSD: Trend Analysis; Will it go down?!
The BTC market is trending and going upward on 1H bars. It made higher highs and higher lows last two weeks. Currently the market broke it structure low and we may see the trend reversal.
The higher timeframe indicates that the BTC price was closed to its structure high at 11.750-1200 area. It is a possible that the market is changing trend and we will see the selling power to rise. The higher timefame analysis has the much bigger significance and it is most likely that the market will go down and will break its support levels. Those buyers, who pushed the price up are going to take their profits sometime soon and it will give the more selling power.
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The higher timeframe indicates that the BTC price was closed to its structure high at 11.750-1200 area. It is a possible that the market is changing trend and we will see the selling power to rise. The higher timefame analysis has the much bigger significance and it is most likely that the market will go down and will break its support levels. Those buyers, who pushed the price up are going to take their profits sometime soon and it will give the more selling power.
- Follow & Comment -
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