If we remember from our last analysis, we talk about potential sell off zone for Bitcoin , price is finally here and all attention shifted to the zone.
What come to my mind is potential pattern type of correction.
The major reason I choose this correction type is because of its simplicity in applying stop loss. Looking on bigger timeframe shows a potential top to be in on BTC , check this 3days candle chart, it look scary, although it also gave good room for tight stop loss application.
The whole idea is well shown on the chart a BREAK above our leg A invalidated the whole idea.
I will advice not to hold to short when this PATTERN Fail. Get out and wait for re-test to join the BULL.
Let see this as my quick market update and always do your own personal research before taking any trading decision based on my view.
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