Symmetrical triangle formed at 4H and 1H timeframe. Following prior trend, it is likely for BTC to continue to the downside, making lower highs and lower lows.
Price met with a strong candle of rejection as it approaches 1H resistance . Following that, strong bearish sentiment present as price continues to fall
Looking to go short until price touches upward trendline
Towards the left side of the chart, as price approaches resistance and attempts to break out of it, it is met with a strong rejection indicated by a long red candle.
I set my SL slightly above the rejection candles and intend to TP at support.
waiting for a move towards the resistance;
looking out for a movement back into the resistance range, a rejection at the resistance and a confirmation towards the downside
or
looking for a movement into the resistance range, a breakthrough, followed by a retest of that same level and a candle confirming the bulls
moving in an uptrend and seems to be approaching weekly resistance, might be a double top formation which would then head to the downside.
decreasing volume on increasing price, a bearish signal
