BTC/USD : Can't be bearish right now !

BYBIT:BTCUSD BTC1!
Hello everyone 😃
Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !

📊 There are two factors that makes me bullish in short-term on #BTC !
- Still moving in a bearish pennant
- CME gap formed on 63K

📌 Have to mention that the bias is bullish on macro view and the current bearish pennant is target the supports below 50K's level !

📚 There will be 2 scenarios :
1st - Break below the pennant,
This could be happen right here or after a retest on the pennant's high.

2nd - Break above the pennant and fill the FVG and CME,
This scenario will be triggered when we reach the high in pennant's range !

So for now; As we holding the pennant we'll be safe and I'll looking for the potential LONGs in short-term on mid-cap ALTs...

🔴 If #BTC get below the pennant, Then we might face a stop-hunt event below the lower 4H's demand.

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Attention: this isn't financial advice we are just trying to help people on their own vision.

Have a good day!
@Helical_Trades

Comment:

Miss typing on 4H supply zone !
It's a 4H Demand...

Comment:

(#BTC_USD - 1H) @Helical_Trades

Going to wait for the daily close before I draw any conclusions, but this kind of rejection usually starts a new move and in this case it would be our move to 53k / September high.

Alts that have pushed over the weekend and today will likely make a higher low.
In general, alts will pull back with bitcoin but those that have shown strength before the market pulls back end up putting in a higher low while bitcoin drops to put in a lower low before reversing. This divergence is usually an underlying sign of strength within the alt market.