BTC - no signs of a bottom
Updated
Anemic price action after breakdown from >100 days of top consolidation.
No signs of reversal or even a bottom on Better SCMR (compare 3k bottom price action).
Price would need to climb above distribution order block (rectangle overhead) to continue uptrend. Very unlikely to happen anytime soon. More downside to come.
Note
Price action according to plan. Rejected by overhead order block and pushed under 8k again. Could see some sweeps here to liquidate late bottom shorters (quite a few of those opened). Position open looking for partial TP once we break local lows.
Trade active
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