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$BTC
Seeing lots of liquidity building up at that 1W 21EMA and SR level, this is a level we are looking at shorting. So eyes on a potential sweep.
Price action is looking a lot similar to that of November - January where price found itself forming a bear flag after an impulsive move down then had a harsh rejection of the 21ema before the next impulsive move down. So far we are following that fractal, why would we expect any different now?
However as a trader I will have my invalidations, a weekly close above that EMA and SR level followed by Daily acceptance above would be a start for confirmation of upside continuation to at least the Yearly Open and 1W MA.
I would then expect that whole move to get faded. Remember, these rallies are completely normal for bear markets. Market makers need this kind of PA to trap longs, build liquidations and fuel that downside continuation. It happens EVERY bear market.
Ultimately The Trend Is Your Friend Until The Very End.
Zoom out, we are in a clear downward trajectory. #btc