Bitcoin / TetherUSShort
BTC Prepares the 2nd-Leg of Fall (Part III)
A Candlestick Analysis (Fundamental Price Action)
In the previous 1H cicle the market closes at lower price making a BEARISH MARUBOZU CANDLE that means the major interest is for a continuity. In conjuction, the actual candle retraces upward to touch the trendline above that Is the peak level of the Left Shoulder of the daily time frame (BTC looks like completing a Head in the daily) . Then the price action Is retracing from it indicating by the Fibonacci Retracement a next candle to 49k.
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In the previous 1H cicle the market closes at lower price making a BEARISH MARUBOZU CANDLE that means the major interest is for a continuity. In conjuction, the actual candle retraces upward to touch the trendline above that Is the peak level of the Left Shoulder of the daily time frame (BTC looks like completing a Head in the daily) . Then the price action Is retracing from it indicating by the Fibonacci Retracement a next candle to 49k.
Hi there. If you like that support my work liking and sharing.
Thanks for yours attention!
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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.