Here is my analysis of the btc price on the daily timeframe
After a year of, buy the dip, higher highs and higher low,i believe we have to be cautious here and not neglect the fact that bitcoin is for the first time creating a lower low...
- the previous support broke out to the downside and is now acting as a resistance.
- we have some strong selling pressure on every dip (Volume), which confirme the idea that we are in a distribution phase on the daily tf, and so, forming a reversal pattern
to invalidate this bearish structure, we will have to form a bottom pattern and re conquer the 58 k usd confluence zone, otherwise, i believe we are going for the 41 k support zone !
The content covered in this publication is NOT to be considered as investment advice.
Thank you all,
If you enjoyed this analysis please mark a thumbs up and do not hesitate to share your point of view in the comment section.
Have a Good day and Safe trade
Butterfly .D
/Metamorphose your portfolio/
After a year of, buy the dip, higher highs and higher low,i believe we have to be cautious here and not neglect the fact that bitcoin is for the first time creating a lower low...
- the previous support broke out to the downside and is now acting as a resistance.
- we have some strong selling pressure on every dip (Volume), which confirme the idea that we are in a distribution phase on the daily tf, and so, forming a reversal pattern
to invalidate this bearish structure, we will have to form a bottom pattern and re conquer the 58 k usd confluence zone, otherwise, i believe we are going for the 41 k support zone !
The content covered in this publication is NOT to be considered as investment advice.
Thank you all,
If you enjoyed this analysis please mark a thumbs up and do not hesitate to share your point of view in the comment section.
Have a Good day and Safe trade
Butterfly .D
/Metamorphose your portfolio/
