Bitcoin / TetherUSShort
Playbook for today
Clear downward momentum has overtaken bitcoin. It has finally fallen out of the daily rising wedge it had been building. It has much further to go.
We just got rejected at a strong previous daily swing low from March 25th, which has now acted as strong resistance.
Lower highs and lower lows on the hourly.
Due to go below $47,700 next and stage another minor bounce before dropping through yesterday's low at $46,000.
Possibly a bear trap from $47,700 first to make a higher high, then creating a broadening wedge before returning to the previous low by daily candle close.
Either way, we're going down further.
We just got rejected at a strong previous daily swing low from March 25th, which has now acted as strong resistance.
Lower highs and lower lows on the hourly.
Due to go below $47,700 next and stage another minor bounce before dropping through yesterday's low at $46,000.
Possibly a bear trap from $47,700 first to make a higher high, then creating a broadening wedge before returning to the previous low by daily candle close.
Either way, we're going down further.
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