$BTC 4The hourly chart is moving within a clear trading range: after the selling climax, short covering formed a rally high, followed by a pullback to test support. Today it retested the previous low, and volume remains relatively high. Although there is a lower wick, it is not an ideal signal that the decline has bottomed, so the market will probably need more time to consolidate.
A genuine breakout after bottoming usually has one of three early signs: first, small bullish and bearish candles on declining volume at the bottom, indicating that selling pressure has largely dried up; second, a brief dip below support on declining volume followed by a quick recovery, showing active buying; third, a high-volume break below support followed by a high-volume recovery, meaning the last of the selling pressure has been absorbed—this is the strongest breakout signal. Once the test is complete, it is often followed by a large bullish candle that rallies quickly.
This pattern has appeared repeatedly on the daily chart since the end of last year. Be patient and hold on; let the market play out. $ETH is also moving in a similar rhythm, so don't lose your position amid the volatility just before dawn.
#BTC #Crypto
A genuine breakout after bottoming usually has one of three early signs: first, small bullish and bearish candles on declining volume at the bottom, indicating that selling pressure has largely dried up; second, a brief dip below support on declining volume followed by a quick recovery, showing active buying; third, a high-volume break below support followed by a high-volume recovery, meaning the last of the selling pressure has been absorbed—this is the strongest breakout signal. Once the test is complete, it is often followed by a large bullish candle that rallies quickly.
This pattern has appeared repeatedly on the daily chart since the end of last year. Be patient and hold on; let the market play out. $ETH is also moving in a similar rhythm, so don't lose your position amid the volatility just before dawn.
#BTC #Crypto
