$BTC
1. Yesterday still closed with a bearish candle. The opportunity suggested by the lower wick can be practically ignored. Although the price fell below 69K, there still hasn't been a decent rebound—in other words, there are no signs of a bottom yet. What’s worth watching is that the price is getting closer and closer to the platform support level.
2. On the bigger picture, the anticipated inverse head-and-shoulders pattern could still take shape. The right-side trough is usually somewhat higher than yesterday’s low, but this higher low is the middle trough—that is, the major low of this pullback at 58K.
Note:
We’ve reached a critical point. Keep an eye out over the next couple of days for any signs of a bottom.
1. Yesterday still closed with a bearish candle. The opportunity suggested by the lower wick can be practically ignored. Although the price fell below 69K, there still hasn't been a decent rebound—in other words, there are no signs of a bottom yet. What’s worth watching is that the price is getting closer and closer to the platform support level.
2. On the bigger picture, the anticipated inverse head-and-shoulders pattern could still take shape. The right-side trough is usually somewhat higher than yesterday’s low, but this higher low is the middle trough—that is, the major low of this pullback at 58K.
Note:
We’ve reached a critical point. Keep an eye out over the next couple of days for any signs of a bottom.
