$BTC
Market structure still bearish.
Just looking at the overall market structure, this doesn’t look bullish yet.
We still have a clean downtrend with multiple lower highs and lower lows.
That said, with price currently pumping, market structure could start to flip bullish again if we break above the last lower high at 68k.
Of course, one higher high doesn’t invalidate the entire downtrend, but it does set the stage for a potential trend shift.
If we break above 68k and then print a higher low, things could get interesting, and I’ll consider starting to look for longs.
If, on the other hand, we break below 58k, the downtrend remains intact and I expect a move toward 55k. #BTC Price Analysis# #Macro Insights#
Market structure still bearish.
Just looking at the overall market structure, this doesn’t look bullish yet.
We still have a clean downtrend with multiple lower highs and lower lows.
That said, with price currently pumping, market structure could start to flip bullish again if we break above the last lower high at 68k.
Of course, one higher high doesn’t invalidate the entire downtrend, but it does set the stage for a potential trend shift.
If we break above 68k and then print a higher low, things could get interesting, and I’ll consider starting to look for longs.
If, on the other hand, we break below 58k, the downtrend remains intact and I expect a move toward 55k. #BTC Price Analysis# #Macro Insights#