BTCUSD 15M TIME FRAME 7/25/2024
UPDATE TAKING PARTIAL SIGNAL WAS GIVEN YESTERDAY
BTCUSD on the 1-hour timeframe as of July 24, 2024 shows a clear redistribution phase indicating the end of wave 1 in the higher timeframe structure. The harmonic pattern confirms a bearish bias as a counter-trend move before potential correction of wave 1 to generate liquidity for higher levels.
Buying at present carries risk as a correction for wave 1 is anticipated, requiring careful risk management. Multiple technical indicators align to suggest a sell-off is probable in the near term, supporting a risk-off approach.
BTCUSD on the 1-hour timeframe as of July 24, 2024 shows a clear redistribution phase indicating the end of wave 1 in the higher timeframe structure. The harmonic pattern confirms a bearish bias as a counter-trend move before potential correction of wave 1 to generate liquidity for higher levels.
Buying at present carries risk as a correction for wave 1 is anticipated, requiring careful risk management. Multiple technical indicators align to suggest a sell-off is probable in the near term, supporting a risk-off approach.
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