BTC has set weekly lower high, which technically signals possible weekly trend reversal. A few things to consider though:
1. The week has not closed yet. While the probability of outside weekly bar is low, it is not impossible
2. Downtrend is far from being confirmed. Bears must break through 60,700 and then 59,500 to launch monthly consolidation. So far price could simply be forming weekly equilibrium
3. There was no strong selling near 71,000 but rather buyers’ exhaustion.
This is a very ambiguous moment. If you are a long term buyer, it is time consider (partial) profit taking. For a seller, it would be more prudent to wait for a moment with a better profit/loss ratio
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
1. The week has not closed yet. While the probability of outside weekly bar is low, it is not impossible
2. Downtrend is far from being confirmed. Bears must break through 60,700 and then 59,500 to launch monthly consolidation. So far price could simply be forming weekly equilibrium
3. There was no strong selling near 71,000 but rather buyers’ exhaustion.
This is a very ambiguous moment. If you are a long term buyer, it is time consider (partial) profit taking. For a seller, it would be more prudent to wait for a moment with a better profit/loss ratio
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.