$BTC UPDATE FOLkS listen Carefully .! ... the structure is still being respected 👀….!
So first of all, $BTC is still trading above the primary ascending trendline. Although the bullish trend remains intact, given the expansion that occurred recently, it will probably be necessary for the market to experience a healthy retracement. So as long as the $64,000-$64,100 region stays supported by this trendline, a bullish outlook will remain valid.
As can be seen on lower timeframes, a potential double top rejection formation has appeared on both 15M and 30M charts. Of course, a possible rejection of price from a level is no reason to assume that the current trend has reversed. It only means that bulls need more time to gather the necessary strength to make an attempt to reach the next resistance.
Therefore, the retest of this support will be absolutely normal…. In fact, retracement of prices back toward the trendline will actually improve the current setup. The best approach for professional traders is always to wait for a pullback after a significant expansion rather than entering a new trade in the direction of the last candle.
Guys, don't be scared by small red candles… the trend is still up and the market