BTC - Still Bearish
Updated
After the last leg up to 21k, I see two scenarios happening in the near future.
Scenario 1, 4h chart:
- BTC goes for one last leg up to 21100 producing a higher high on the micro scale of the chart then nukes to 17k target.
Scenario 2, 4h chart:
- BTC goes to 20800 producing a lower high to the previous 21k high, and continues a downtrend. which leads to the same 17k target.
Why am I still bearish you ask? because on the Daily Chart BTC is still producing lower highs on the macro chart, Unless it breaks 22800 price which is the last high on the daily.
Scenario 1, 4h chart:
- BTC goes for one last leg up to 21100 producing a higher high on the micro scale of the chart then nukes to 17k target.
Scenario 2, 4h chart:
- BTC goes to 20800 producing a lower high to the previous 21k high, and continues a downtrend. which leads to the same 17k target.
Why am I still bearish you ask? because on the Daily Chart BTC is still producing lower highs on the macro chart, Unless it breaks 22800 price which is the last high on the daily.
Trade closed: target reached
Scenario 2 wins
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.