$BTC UPDATE
The current downtrend looks more like a short-term pullback within the broader weekly structure.
After the recent weekly close above structure, some retracement is expected. The move can also flush out late buyers who entered with high leverage, especially around the recent breakout.
For a possible setup, I'm mainly watching the higher timeframes:
• Weekly: Holding above the broken structure
• 1D: Whether the pullback remains controlled
• 4H: Looking for the next shift back into bullish structure
• Monthly: Watching how $BTC closes the month
As long as the higher-timeframe structure remains intact, I don't see the current short-term weakness as enough to change the broader outlook.
Still watching and waiting for confirmation rather than chasing the move.
#BTC #BTCUSDTAnalysis #TechnicalAnalysis
The current downtrend looks more like a short-term pullback within the broader weekly structure.
After the recent weekly close above structure, some retracement is expected. The move can also flush out late buyers who entered with high leverage, especially around the recent breakout.
For a possible setup, I'm mainly watching the higher timeframes:
• Weekly: Holding above the broken structure
• 1D: Whether the pullback remains controlled
• 4H: Looking for the next shift back into bullish structure
• Monthly: Watching how $BTC closes the month
As long as the higher-timeframe structure remains intact, I don't see the current short-term weakness as enough to change the broader outlook.
Still watching and waiting for confirmation rather than chasing the move.
#BTC #BTCUSDTAnalysis #TechnicalAnalysis
