BTC area of interest, short term trend change?
Just a thought…
as I’ve pointed out I am bearish on BTC short/mid term.
Here on the one hour chart I’ve highlighted an area where we see long wicks on both sides of the candles. Too me that indicates at least a short term trend change. Obviously the asset is on a mid-term down trend since reaching all time high.
In this case I am seeing very weak buying hours especially the last few hours that hardly move the price from open to close.
BTC has found a local low and come back up a bit.
I am leaning towards this trend change taking BTC to a new short term local low.
I am not making any trades based on this information I am keeping the trades I have.
Still need to think this one out and collaborate to see what others think.
as I’ve pointed out I am bearish on BTC short/mid term.
Here on the one hour chart I’ve highlighted an area where we see long wicks on both sides of the candles. Too me that indicates at least a short term trend change. Obviously the asset is on a mid-term down trend since reaching all time high.
In this case I am seeing very weak buying hours especially the last few hours that hardly move the price from open to close.
BTC has found a local low and come back up a bit.
I am leaning towards this trend change taking BTC to a new short term local low.
I am not making any trades based on this information I am keeping the trades I have.
Still need to think this one out and collaborate to see what others think.
Comment:
Since posting BTC has one one more green hour that moved little open to close, one down hour that sold and got bought back pretty well but with weak volume, and now 26 mins from finishing two decently strong hours up but also weak volume.
