In-Depth Analysis of Bitcoin's Higher Time Frame
When it comes to Bitcoin's higher time frame, my perspective leans towards a bearish outlook. In my analysis, it seems like we're witnessing a retracement rally, signaling potentially challenging times ahead for the cryptocurrency market.
Waiting for Deviation from Higher Time Frame Bearish trend
As someone who typically favors short-term and intraday trading, I've chosen to stay cautious until Bitcoin shows signs of deviating from its bearish pattern on the monthly chart. If this were not the case on a weekly time frame, I would have already taken a short position.
Critical Level: 35/37K and Weekly Candle Close above it.
My bearish sentiment will only shift if we see Bitcoin trading above the 35/37K mark and achieving a weekly candle close at that level. This serves as my invalidation point for any potential short setups in BTC. Should the market stabilize at this point, I'll transition to long-term positions in Bitcoin. Until then, I'll remain on the sidelines for both Bitcoin and altcoins.
#market #LongTermInvesting
#bitcoin #cryptocurrency #marketanalysis #Bearish #bitcoinanalysis #cryptoinvestment #BtcAnalysis #cryptocurrencytoTrading
Disclaimer: Please be aware that the views expressed here are solely based on my analysis and should not be considered financial advice. Always conduct your own research and consult with a financial professional before making any investment decisions.
#Disclaimer #financialanalysiss #investmentadvisory
When it comes to Bitcoin's higher time frame, my perspective leans towards a bearish outlook. In my analysis, it seems like we're witnessing a retracement rally, signaling potentially challenging times ahead for the cryptocurrency market.
Waiting for Deviation from Higher Time Frame Bearish trend
As someone who typically favors short-term and intraday trading, I've chosen to stay cautious until Bitcoin shows signs of deviating from its bearish pattern on the monthly chart. If this were not the case on a weekly time frame, I would have already taken a short position.
Critical Level: 35/37K and Weekly Candle Close above it.
My bearish sentiment will only shift if we see Bitcoin trading above the 35/37K mark and achieving a weekly candle close at that level. This serves as my invalidation point for any potential short setups in BTC. Should the market stabilize at this point, I'll transition to long-term positions in Bitcoin. Until then, I'll remain on the sidelines for both Bitcoin and altcoins.
#market #LongTermInvesting
#bitcoin #cryptocurrency #marketanalysis #Bearish #bitcoinanalysis #cryptoinvestment #BtcAnalysis #cryptocurrencytoTrading
Disclaimer: Please be aware that the views expressed here are solely based on my analysis and should not be considered financial advice. Always conduct your own research and consult with a financial professional before making any investment decisions.
#Disclaimer #financialanalysiss #investmentadvisory