If bitcoin is Bullish needs to put a HH.
Rejecting 49/50s and breaking through 44.5 on daily candles will confirm LH and LL, confirming a downtrend. Similar distribution pa.
Rejected hard on log channel which acted as support with 4 taps at 30s
Breaking through the log channel is my long scenario
and breaking through the lower lows is my short scenario.
Invalidation for the long scenario is fall back to the channel.
Invalidation for the short scenario is price bouncing from Weekly 21 ema .
Target of the short scenario is the middle of the channel.
Target of the long scenario is 57s and the weekly OB.
Rejecting 49/50s and breaking through 44.5 on daily candles will confirm LH and LL, confirming a downtrend. Similar distribution pa.
Rejected hard on log channel which acted as support with 4 taps at 30s
Breaking through the log channel is my long scenario
and breaking through the lower lows is my short scenario.
Invalidation for the long scenario is fall back to the channel.
Invalidation for the short scenario is price bouncing from Weekly 21 ema .
Target of the short scenario is the middle of the channel.
Target of the long scenario is 57s and the weekly OB.