Starting from a weekly perspective, we can see that BTC has been bearish for 5 consecutive weeks, with none of the weeks printing as an ‘inside day’ suggesting volatility through the week.
The weekly lows made during the week of 8th April and 15th April 2024 still has not been traded to and through, implying sluggish price action when delivering. This is not the type of conditions that I would put real money at risk and would look at the Fx markets or stock index markets as an alternative.
All-time highs was printed on the 11th March 2024 @ $73,777 and ever since then, price failed to reach back up to that level.
My bearish discount array I am interested in is the $53,000 - $51,900 zone which might take a few weeks to pan out, with $59,600 being the first point of call.
The weekly lows made during the week of 8th April and 15th April 2024 still has not been traded to and through, implying sluggish price action when delivering. This is not the type of conditions that I would put real money at risk and would look at the Fx markets or stock index markets as an alternative.
All-time highs was printed on the 11th March 2024 @ $73,777 and ever since then, price failed to reach back up to that level.
My bearish discount array I am interested in is the $53,000 - $51,900 zone which might take a few weeks to pan out, with $59,600 being the first point of call.