BTC price action continues to adhere to it's bearish swing trend.
Although we have seen flatter swing trend than before, price action still passes through it's support level of 34,800; thus forming a lower low 4hourly swing pattern.
The retracement wasn't ideal as price did not retrace back to above 40,000; thus forming a lower high 4hourly swing pattern.
Trade setup observation:
Price is likely going to retest it's flatter swing trend. In the event of false breakout, short entry has an opportunity gain of 13%.
*Kindly note that these are my opinions and does not constitute as financial advice. Opinions can be wrong! Please seek professional advice before investing.
Although we have seen flatter swing trend than before, price action still passes through it's support level of 34,800; thus forming a lower low 4hourly swing pattern.
The retracement wasn't ideal as price did not retrace back to above 40,000; thus forming a lower high 4hourly swing pattern.
Trade setup observation:
Price is likely going to retest it's flatter swing trend. In the event of false breakout, short entry has an opportunity gain of 13%.
*Kindly note that these are my opinions and does not constitute as financial advice. Opinions can be wrong! Please seek professional advice before investing.
Commentaire:
I have uploaded my analysis on YouTube. Please do check it out if you prefer video walkthrough. (link in profile)