This pattern is bearish, and if it plays out price price will more than likely retest the previous low
Comment:
BTC has been rejected pretty hard by the pivot, and is experiencing some pretty intense selling right now. I'm not very confident in the support at 9,400-9,000 can hold us up for a 4th time. Plus, BTC failed to even test 11k and just put in it's lowest high yet, this makes me think that we need more downside to tap into new demand in the 8,000s.
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BTC has been rejected pretty hard by the pivot, and is experiencing some pretty intense selling right now. I'm not very confident in the support at 9,400-9,000 can hold us up for a 4th time. Plus, BTC failed to even test 11k and just put in it's lowest high yet, this makes me think that we need more downside to tap into new demand in the 8,000s.