After the volatile movement today, Bitcoin is putting in a very sluggish recovery. This candle will close beneath equilibrium of the range high and low.
Important to note that both zones of liquidity have been swept (range highs and lows) so this does have the potential to move sideways.
More likely, this represents a good opportunity to re-fuel shorts. Price should not close above the range EQ (4002-4005) if we're to have swift continuation to the downside.
Time Transformation is confirming the bearish bias, no indication of a crossover even with the sluggishly bullish current candle.
Waddah Attar is confirming the downside movement, volume above the explosion level and bearish.
Candlestick Formation: Spinning Top Doji, represents market indecision and definitely not a sign of strength for the bulls.
Important to note that both zones of liquidity have been swept (range highs and lows) so this does have the potential to move sideways.
More likely, this represents a good opportunity to re-fuel shorts. Price should not close above the range EQ (4002-4005) if we're to have swift continuation to the downside.
Time Transformation is confirming the bearish bias, no indication of a crossover even with the sluggishly bullish current candle.
Waddah Attar is confirming the downside movement, volume above the explosion level and bearish.
Candlestick Formation: Spinning Top Doji, represents market indecision and definitely not a sign of strength for the bulls.
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