$BTC bullish structure is beginning to break down.
After a sharp selloff, price has now swept the recent low but hasn’t quite found acceptance below it yet...
Once BTC closes below $77.6K, structure will flip bearish and I’ll look for additional confirmation to open a short.
So should price, on the other hand, find further acceptance back above the recent low, there is a chance that we continue chopping around for a bit longer...
However for now my main scenario remains lower, especially as spot has continued selling throughout the entire move..
Right at the moment If structure does flip bearish, the $74K–$76K area remains my main target, as that’s where a large amount of downside liquidity has built up.
$BTC
#BTC
After a sharp selloff, price has now swept the recent low but hasn’t quite found acceptance below it yet...
Once BTC closes below $77.6K, structure will flip bearish and I’ll look for additional confirmation to open a short.
So should price, on the other hand, find further acceptance back above the recent low, there is a chance that we continue chopping around for a bit longer...
However for now my main scenario remains lower, especially as spot has continued selling throughout the entire move..
Right at the moment If structure does flip bearish, the $74K–$76K area remains my main target, as that’s where a large amount of downside liquidity has built up.
$BTC
#BTC
