BTC Monthly candle wrapping things up on a Large bearish pinbar
BTC Monthly candle has 4 days to go and is wrapping things up on a Large bearish pin-bear.
This is not a good way to close out a monthly candle as the bearish Pinbar would indicate a negative trend change and possible further downtrend next month to the 18k area.
To negate this if BTC moves back up to the 33/34k area before closing out the January candle this can flip the monthly candle to a spinning top which can be a neutral candle
Whats does this mean ?
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This means in the next 4 days before the end of January BTC has to show some strength and move back to the 33/34k area - Plus remain there until the January candle closes.
This is not a good way to close out a monthly candle as the bearish Pinbar would indicate a negative trend change and possible further downtrend next month to the 18k area.
To negate this if BTC moves back up to the 33/34k area before closing out the January candle this can flip the monthly candle to a spinning top which can be a neutral candle
Whats does this mean ?
=====================
This means in the next 4 days before the end of January BTC has to show some strength and move back to the 33/34k area - Plus remain there until the January candle closes.