Continuation of Bitcoin trend analysis.
Since the weekly top divergence, we have now seen an effective second bearish candlestick. To complete this move, we need more than two candlesticks and two new lows. Conclusion: Taking long positions at the weekly level remains high risk.
Entering the daily observation, the first segment of the decline created a new low, meeting the completion conditions. A second segment of a rebound could start at any time, but when it starts and how high it rebounds remains to be observed, as Bitcoin's volatility is too severe. Conclusion: At the daily level, taking short positions is high risk.
Since the weekly top divergence, we have now seen an effective second bearish candlestick. To complete this move, we need more than two candlesticks and two new lows. Conclusion: Taking long positions at the weekly level remains high risk.
Entering the daily observation, the first segment of the decline created a new low, meeting the completion conditions. A second segment of a rebound could start at any time, but when it starts and how high it rebounds remains to be observed, as Bitcoin's volatility is too severe. Conclusion: At the daily level, taking short positions is high risk.