If you compare Hash ribbon signals to price action and want to find a similar scenario, you can look at the Previous Signal that confimed miner capitulation after a massive drop that resulted in a ascending wedge that broke to the downside just like we experienced now.
We also have more bearish patterns from the Wolfpack indicator.
From the pattern you can see it previously targeted a double bottom to test if there was enough buy pressure at that point.
To add to the techicals you have to factor in mayor uncertainties across all markets right now so the retest might not hold due to liquidation pressure.
If BTC rises above 7000$ and closes above i can see the case for more bullish movement but at this time not.
Not financial advise please do your own research and trade carefully and without high leverage.
We also have more bearish patterns from the Wolfpack indicator.
From the pattern you can see it previously targeted a double bottom to test if there was enough buy pressure at that point.
To add to the techicals you have to factor in mayor uncertainties across all markets right now so the retest might not hold due to liquidation pressure.
If BTC rises above 7000$ and closes above i can see the case for more bullish movement but at this time not.
Not financial advise please do your own research and trade carefully and without high leverage.