BTC/USD 1D - As you can see price has traded us down and into a level of Demand and has shown some signs of potentially reversing back to the upside. In order for us to have confirmation of this we need to see a relevant break in structure.
I have gone ahead and marked out the last protected high on the 1H timeframes within this bearish corrective wave, once we see a break in that we have the confluence we need.
As we all know a break in the last high would confirm to us that the bearish structure we are seeing at the moment within this corrective wave has finished an a new trend to the upside is ready to take place.
It confirms that enough Demand has been introduced into the market to flip the S&D balance. Giving us enough confirmation to look to take this market long once again, as we know there are big prospects for BTC and the prevailing trend backs that.
I have gone ahead and marked out the last protected high on the 1H timeframes within this bearish corrective wave, once we see a break in that we have the confluence we need.
As we all know a break in the last high would confirm to us that the bearish structure we are seeing at the moment within this corrective wave has finished an a new trend to the upside is ready to take place.
It confirms that enough Demand has been introduced into the market to flip the S&D balance. Giving us enough confirmation to look to take this market long once again, as we know there are big prospects for BTC and the prevailing trend backs that.
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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.