bearish set up on bitcoin
Given the pattern and current market structure, there's a strong case for a short- term bearish scenario. However, if Bitcoin finds support and bounces at the key levels mentioned it could attract buyers and potentially reverse. For now, the focus remains oon the targets set for profit-taking on the downside. This corrective phase could provide good shorting opportinyties especially after the recent bullish rally.
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.