On the 29th Oct 2024, you would expect a blow out top, sweeping all time highs, running on all time highs whilst maintaining a strong bullish closure going into the ending of the week but what we are seeing right now is a bullish shooting star formation with the candle body currently under the previous 2 weeks highs. This signifies weakness in bullish momentum, especially if price closes this way on Sunday.
Relief retracement back down to $65,000, even if it's a manipulated spike down to that region does not seem far fetched.
Relief retracement back down to $65,000, even if it's a manipulated spike down to that region does not seem far fetched.
Trade closed: stop reached
Bias incorrect this week with all time highs printing, just as stock indexes.Something to note in the future is, if we see stock index markets rallying, take a look over at Bitcoin to see if there is any correlation as stock index markets has printed new highs as well as bitcoin.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.