Bitcoin has some pressure building again that's trickling down from HTFs. The Daily has a new shaded squeeze with a bit of weakness still present. Unfortunately, we're still waiting for a HTF signal that presents a clear recovery. The Weekly hasn't changed much at all. Same outlook really and still waiting on a catalyst or sign of recovery. Just kinda floating above the 200WMA. What I really wanted to show you was the Monthly, though. Notice where we're sitting today in terms of price action. Also, I'm not quite sure we've fully played out this shaded squeeze on the Monthly either. All I'm really saying here is that there is a case to be made for further lows on Bitcoin, and we should be prepared for more volatility at the very least, especially with a war looming at the same time.
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$BTC
Bitcoin has some pressure building again that's trickling down from HTFs. The Daily has a new shaded squeeze with a bit of weakness still present. Unfortunately, we're still waiting for a HTF signal that presents a clear recovery.
The Weekly hasn't changed much at all. Same outlook really and still waiting on a catalyst or sign of recovery. Just kinda floating above the 200WMA.
What I really wanted to show you was the Monthly, though. Notice where we're sitting today in terms of price action. Also, I'm not quite sure we've fully played out this shaded squeeze on the Monthly either. All I'm really saying here is that there is a case to be made for further lows on Bitcoin, and we should be prepared for more volatility at the very least, especially with a war looming at the same time.