As seen on the chart, less than a month period, #bitcoin did unable to cross 72K, after 2 major declination, formed bearish double top pattern. Also in 3 months period,
BTC
formed Wyckoff' s distribution schematic and proceeding to last confirmation of the major correction. In lower time frame, #btcusd dumped from 70K to 66K heavily and lost the trend line (black line) support. Before CPI, yesterday attempted to reclaim the trend line but price heavily declined from 70K. So, #btcusdt did a bearish retest and reclaiming the trendline failed with this fake pump.
If we want to see a bullish #btc , the price must reclaim 72K permanently, otherwise the next major support zone is given on the chart (the red box).
Not financial advice.
BTC
formed Wyckoff' s distribution schematic and proceeding to last confirmation of the major correction. In lower time frame, #btcusd dumped from 70K to 66K heavily and lost the trend line (black line) support. Before CPI, yesterday attempted to reclaim the trend line but price heavily declined from 70K. So, #btcusdt did a bearish retest and reclaiming the trendline failed with this fake pump. If we want to see a bullish #btc , the price must reclaim 72K permanently, otherwise the next major support zone is given on the chart (the red box).
Not financial advice.
