BTC is his own boss. No one can prescribe him what to do.
So, following standard TA, my analysis points in the direction of $4600 first before any "reversal" will likely be considered plausible.
We've have confluence of the long term trendline as well as 4 weeks of testing the $4600 range.
Yes, there are some higher prices ( > 4600 and < 5000) within this area but looking at the weekly chart these prices are making up the wicks of the weekly candles. I prefer to use candle bodies' OPEN and CLOSE prices when applying PA.
Short term bias = SHORT
Long term bias = LONG
Not financial advise.
For educational purposes only
Regards
EZ
So, following standard TA, my analysis points in the direction of $4600 first before any "reversal" will likely be considered plausible.
We've have confluence of the long term trendline as well as 4 weeks of testing the $4600 range.
Yes, there are some higher prices ( > 4600 and < 5000) within this area but looking at the weekly chart these prices are making up the wicks of the weekly candles. I prefer to use candle bodies' OPEN and CLOSE prices when applying PA.
Short term bias = SHORT
Long term bias = LONG
Not financial advise.
For educational purposes only
Regards
EZ