Even with last weeks push down, we can still see that not only is the daily structure still in-tact, but also divergence is still very much present. I think some LTF volatility through the weekend is very much a possibility.
Although Friday closed with a rejection of the bottom of the daily structure, the price action is still looking bearish.
If this can muster the strength to break through the 4hr channel (not visible in this screen grab) that will expose the top of this daily structure. A break of this structure then exposes around 60k. 60k is a loose figure at the moment and would be subject to change if we don't see BTC break the structure on this wave.
60k is a fib ext target, which is only relevant when we can see the point in which the structure is broken. at the moment it is purely a projection.
Although Friday closed with a rejection of the bottom of the daily structure, the price action is still looking bearish.
If this can muster the strength to break through the 4hr channel (not visible in this screen grab) that will expose the top of this daily structure. A break of this structure then exposes around 60k. 60k is a loose figure at the moment and would be subject to change if we don't see BTC break the structure on this wave.
60k is a fib ext target, which is only relevant when we can see the point in which the structure is broken. at the moment it is purely a projection.