Hello guys!
Do you remember the last analysis?
Now this BTC chart shows a textbook example of two consecutive QML (Quasimodo Level) patterns forming (QML1 and QML2), each confirmed by clean engulfed lows.
QML1 caused a strong drop after the high was broken and a new low formed.
Price retraced and created QML2, again with a confirmed engulfed low (engulfed2).
We're now likely to see a reaction at the QML2 supply zone.
If price respects this second QML zone, we could see another bearish move toward the 116k zone, possibly lower.
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