Hello Dear Traders,
Today BTC closed weekly candle:
as u can see above there are 2 consecutive bearish candles closed after touch 42k area. this is indicating strong bearish sentiments in market also volume and BTC dominance is rapidly decreasing. at this price point its clear tht btc is not getting strong demand here, btc needs healthy correction to rise further.
on 4hr timeframe i have marked a rising wedge chart pattern. rising wedges most of the time breaks downside and target is size of pole.
which is indicating near 24000$, this rising wedge pattern gets invalidated if prices cross 35k.
Today BTC closed weekly candle:
as u can see above there are 2 consecutive bearish candles closed after touch 42k area. this is indicating strong bearish sentiments in market also volume and BTC dominance is rapidly decreasing. at this price point its clear tht btc is not getting strong demand here, btc needs healthy correction to rise further.
on 4hr timeframe i have marked a rising wedge chart pattern. rising wedges most of the time breaks downside and target is size of pole.
which is indicating near 24000$, this rising wedge pattern gets invalidated if prices cross 35k.
