$BTC
This rebound is right on point. The structure of this bounce can be seen in my referenced previous tweets; it’s a classic example of a breakdown followed by a rebound test that faces resistance.
Currently, this 4H candlestick hasn’t formed a significant upper wick, which suggests the rebound might continue. (I’ve discussed several crucial candlestick patterns before, and one bearish pattern is two upper wicks of similar height, along with a short red-green combo.)
Right now, the focus is on whether 639 can reclaim its position or if it faces resistance and drops again. Alternatively, there’s also the potential level at 646, where I personally believe the downtrend will continue.
This rebound is right on point. The structure of this bounce can be seen in my referenced previous tweets; it’s a classic example of a breakdown followed by a rebound test that faces resistance.
Currently, this 4H candlestick hasn’t formed a significant upper wick, which suggests the rebound might continue. (I’ve discussed several crucial candlestick patterns before, and one bearish pattern is two upper wicks of similar height, along with a short red-green combo.)
Right now, the focus is on whether 639 can reclaim its position or if it faces resistance and drops again. Alternatively, there’s also the potential level at 646, where I personally believe the downtrend will continue.
