BTC shorts have continued sinking toward the lows of a daily demand zone, whilst BTC price itself has failed to make much reverse-correlated movement in turn.
This means that the recent BTC trend channel break was a fakeout and BTC is heading to new lows around $3300 within the next month or so.
This means that the recent BTC trend channel break was a fakeout and BTC is heading to new lows around $3300 within the next month or so.
Note
Lets not forget the 3rd wave trendline bounce (not visibly shown here) for BTC shorts, which is a further confluence that BTC needs to drop heavily
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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.