📉 Market Structure: BTC
I've been analyzing BTC's market structure, and it's quite intriguing. A week ago, a 🔻Hanging Man candle appeared, signaling that while the market initially dropped, buyers pushed it back up, closing near the entry point. However, last week's 📉 Weekly Close was below the hammer, indicating that sellers may now be in control.
⚠️ Wow, the market looks really confusing! You see 📈 up from one point of view and 📉 down from another. Given these signals, I no longer expect the market to rise as previously anticipated. Instead, a 🔽 downward movement seems more likely.
📊 If you should notice, BTC has not hit any strong support zone yet. So, I think it needs to take support around $69K before any potential reversal.
Confusion everywhere
👀 Let’s watch and see how the market unfolds! 🚀
