In the weekly Chart I expected BTCUSD to climb.
The reason was that the most probable path of price was to the upside.
But in the Daily TF, the L-MLH (White) is broken.
And the Red down-Forks Centerline is also cracked.
According to the rules of the Medianlines/Pitchfork it's a sign that price will trade down to the L-MLH.
Any potential buy zones?
Yes!
If price can manage to jump back into the white Fork, or above the red Centerline, then BTC should head higher was it would be expected in the Trading Framework of the Forks.
RSI is oversold too. So at least this could create a (short term?) bounce.
The reason was that the most probable path of price was to the upside.
But in the Daily TF, the L-MLH (White) is broken.
And the Red down-Forks Centerline is also cracked.
According to the rules of the Medianlines/Pitchfork it's a sign that price will trade down to the L-MLH.
Any potential buy zones?
Yes!
If price can manage to jump back into the white Fork, or above the red Centerline, then BTC should head higher was it would be expected in the Trading Framework of the Forks.
RSI is oversold too. So at least this could create a (short term?) bounce.