Looking the BTC graph upside down we have a better perspective of what might be going with BTC in a wider perspective and outside of any bitcoin-maxi opinion on the fact that we are still doing bullish patterns and the price should see 72k soon.
On a higher timeframe what we can see is that:
Bitcoin broke a very important upward trendline on the 12th of April.
Bitcoin is printing lower lows and lower highs.
The recent lower high was at the 0.618 fibonacci zone of the lower low pullback, and the rejection was hard, printing a very strong bearish candle in 4H.
The last price rejection at 66600 defined a clear downward trendline (seen in red in the graph), which Bitcoin should break and print a higher high in order to confirm we are still on an uptrend.
The upside down graph of Bitcoin looks very bullish, meaning that Bitcoin is indeed looking bearish in a normal graph.
We could see bulls trying to defend 60k-63k and try to break the downward trendline, if they fail, we could see 53k around or before May.
Comment
Price tried testing once again the bearish trendline, doing a very similar path to the green path drawn in the graph but got heavily rejected. Let's see what comes next.
A rejection from 60k is very much possible, but I would not dare to call this a 'double bottom' if it happens. Or at least not the classic as we know, it's more a test of the neckline I would say.
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