BTCUSDT 1D,
The price of bitcoin has formed a specific direction on the daily timeframe, the thing is that you don't see a reversal immediately, before reversal we either go sideways and form balance OR we form inside day pattern like we currently witness.
What is inside day?: As you can see, a whole daily candle without breaking lowest low/highest high of the day before it, the candle is inside of that resistance and support. Knowing that there is FOMC news today there could be 2 possibilities 50% / 50%, if we go for a higher high and close we will continue to the upside, if we close below there could be a possibility of continuing to the downside. MOSTLY if in the next day we go for another lower low candle.
The price of bitcoin has formed a specific direction on the daily timeframe, the thing is that you don't see a reversal immediately, before reversal we either go sideways and form balance OR we form inside day pattern like we currently witness.
What is inside day?: As you can see, a whole daily candle without breaking lowest low/highest high of the day before it, the candle is inside of that resistance and support. Knowing that there is FOMC news today there could be 2 possibilities 50% / 50%, if we go for a higher high and close we will continue to the upside, if we close below there could be a possibility of continuing to the downside. MOSTLY if in the next day we go for another lower low candle.