BTC looks to heavy for upside context

Morning everybody,

Recent price action makes us keep bearish scenario valid. BTC action looks heavy, no signs of thrust up. Current action as on daily chart as on 4H chart
looks like retracement after fast drop. Besides, we have uncompleted our major daily 5900$ target.

Putting it all together, our expectation stands with downward continuation. The only uncertainty is not about the target but around the point where this action should start.

Either it will start right from here, or, market could form 1H "222" Sell". Please for daily and 1H patterns visit our signature link, dedicated to BTC analysis.

تم فتح الصفقة:

So, as you can see BTC was not able even to form "222" Sell on 1H chart that we've mentioned yesterday.

As today we also have bearish grabber on 4H chart and market just hangs on trend line on 1H chart - we keep our bearish scenario valid.