🔥 Bitcoin Trend Change: Scouting For Higher Low
Today is going to be a red day. We started off strong, but stocks have been dumping since the open, so naturally BTC follows.
However, this might not be an issue in the short-term. Since the reversal we saw earlier this week, this is the first correction that we're seeing. Which is expected after a +12% gain in just a couple of days.
For reference, I've copied the bar pattern from last part of December. Pattern is as follows: low has been set, first bullish correction wave up, followed by a minor 1-day bear move, followed again by a bullish impulse.
Yesterday I made a post on where I expect bulls to exit their positions and bears to enter them. The dotted trend line is going to be a huge resistance. In case of a bullish reversal from tomorrow onward, I expect to find difficulties at the dotted line. See analysis below for more info.
Happy trading!
However, this might not be an issue in the short-term. Since the reversal we saw earlier this week, this is the first correction that we're seeing. Which is expected after a +12% gain in just a couple of days.
For reference, I've copied the bar pattern from last part of December. Pattern is as follows: low has been set, first bullish correction wave up, followed by a minor 1-day bear move, followed again by a bullish impulse.
Yesterday I made a post on where I expect bulls to exit their positions and bears to enter them. The dotted trend line is going to be a huge resistance. In case of a bullish reversal from tomorrow onward, I expect to find difficulties at the dotted line. See analysis below for more info.
Happy trading!
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