Bitcoin / TetherUS

🔥 Bitcoin: Short-Term Bearish Channel

In my earlier BTC analysis I was waiting for a higher-low > lower-high formation to emerge. However, BTC even failed to reach the local top around 44.5k and continued trending downward.

🔥 Bitcoin Trend Change: Scouting For Higher Low


In the short-term, I'm expecting BTC to follow this bearish channel. However, when I'm looking forward I'm edging more towards the bearish side of BTC. Slow bearish grinds often see a big sell-off as their climax. Not sure how low this climax can bring us, but a move below 39K is still in the cards.

These bearish climaxes are often a sign of reversal. Might take a while for the bulls to take over, but historically these sell-off cascades are good for the bulls.

For now, we're in a bearish low-volatility environment. Some tokens might take off, like FTM or ROSE, but most of the market is not doing a lot lately. I'm expecting volatility to come to us in the near future, either up or down.

Happy trading!

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.