Claes

Fractal of March 5th Hammer reversal

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Watching the close of the 21th of march with it being a very similar red hammer after a bullish uptrend - possibly making a lower high. Testing theory with a fractal of the 5th.

Upon the close of the daily the price rallied to paint a Doji marking indecision. Market traded upwards but later dropped to form what you currently are seeing.

Bottom red line is previous bottom. Top red line is important 9300 resistance level . Bearish volume and If 8700 can't hold we go to 8300 and this case may play out. Will keep updating.
V-bottom rejection with volume canceled downtrend - see circle

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