Bitcoin / TetherUSShort
BTC Price Analysis: Key Technical Insights & Bearish Sentiment
Updated
Hello there,
BTC went down to 49221.93 and rallied up to 64133.59 for appears to be a B in a corrective wave. The higher low at 53315.24 creates the impression that price will continue bullish since to 49221.93, but that will need confirmation above (B) where in sits a supply zone.
Current candle structure does not support a strong bullish momentum but the break below of 57642.58 will be meaningful for any indication of bearish continuation.
The sentiment right now is highly bearish with two price targets for a bias of 31265.28
Summary : Current trend shows weak bullish momentum, and a drop below 57642.58 could indicate further bearish action, leaning strongly bearish toward even lower lows.
Happy Trading,
K.
BTC went down to 49221.93 and rallied up to 64133.59 for appears to be a B in a corrective wave. The higher low at 53315.24 creates the impression that price will continue bullish since to 49221.93, but that will need confirmation above (B) where in sits a supply zone.
Current candle structure does not support a strong bullish momentum but the break below of 57642.58 will be meaningful for any indication of bearish continuation.
The sentiment right now is highly bearish with two price targets for a bias of 31265.28
Summary : Current trend shows weak bullish momentum, and a drop below 57642.58 could indicate further bearish action, leaning strongly bearish toward even lower lows.
Happy Trading,
K.
Trade closed manually
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Happy trading
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