$BTC looking bearish (Upside down graph)

Looking the BTC graph upside down we have a better perspective of what might be going with BTC in a wider perspective and outside of any bitcoin-maxi opinion on the fact that we are still doing bullish patterns and the price should see 72k soon.

On a higher timeframe what we can see is that:

• Bitcoin broke a very important upward trendline on the 12th of April.
  
• Bitcoin is printing lower lows and lower highs.
  
• The recent lower high was at the 0.618 fibonacci zone of the lower low pullback, and the rejection was hard, printing a very strong bearish candle in 4H.
  
• The last price rejection at 66600 defined a clear downward trendline (seen in red in the graph), which Bitcoin should break and print a higher high in order to confirm we are still on an uptrend.
  

The upside down graph of Bitcoin looks very bullish, meaning that Bitcoin is indeed looking bearish in a normal graph.


We could see bulls trying to defend 60k-63k and try to break the downward trendline, if they fail, we could see 53k around or before May.

Comment:

Price tried testing once again the bearish trendline, doing a very similar path to the green path drawn in the graph but got heavily rejected. Let's see what comes next.

A rejection from 60k is very much possible, but I would not dare to call this a 'double bottom' if it happens. Or at least not the classic as we know, it's more a test of the neckline I would say.

Bulls vs. bears, anything can happen!