Following yesterday’s analysis, Bitcoin has now tested the mid-term descending trendline for the third time. It’s hard to say whether the last 4H candle has actually closed above this trendline. However, I don’t consider this as a confirmed breakout yet — for me, a breakout should be confirmed by market structure, not just by a single candle close.
So today, I’ll be watching Bitcoin’s reaction to this trendline closely.
If price gets rejected, I expect it to drop toward the **liquidity zone** I’ve marked, collect liquidity there, and then potentially continue its downward move.
📌 Summary
* I will not take any long positions until I see a confirmed breakout in structure.
* If Bitcoin gets rejected from the trendline, I’ll look into short setups on altcoins، depending on Bitcoin dominance.
So today, I’ll be watching Bitcoin’s reaction to this trendline closely.
If price gets rejected, I expect it to drop toward the **liquidity zone** I’ve marked, collect liquidity there, and then potentially continue its downward move.
📌 Summary
* I will not take any long positions until I see a confirmed breakout in structure.
* If Bitcoin gets rejected from the trendline, I’ll look into short setups on altcoins، depending on Bitcoin dominance.
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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.
Related publications
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.