On the D1 frame: The D1 candlestick just closed is a Bullish Pinbar, with a very long lower wick and closing above half the range. At the same time, the volume surged, indicating strong buying pressure supporting the price from below. - The medium-term trend (D1 frame) is still bearish (as after creating a peak around 108K, BTC has continuously created lower peaks). However, there are some positive technical factors indicating the possibility of BTC having a recovery in the near future: 1. A double bottom pattern is forming with the second bottom having a strong wick when testing the support area (first bottom) along with extremely large volume showing strong buying force. 2. A bullish divergence signal appears on D1 when the price creates a lower low but the RSI indicator shows a higher low. This signal indicates that bearish momentum has weakened. => With these positive signals, in my view, BTC is likely to have a recovery to the 84K area in the short term. * On the H4 frame: A V-Shaped Recovery pattern appears right at the support area + strong volume increase. This could be a sign of buying force from smart money. Therefore, a recovery is likely in the near future. * Trading idea: Wait for BTC to correct and create a higher low on the H4 frame to buy in anticipation of BTC testing back to the 84K area. (This article reflects my personal opinion, everyone is invited to refer.)
