We’ve been watching BTC.d for some time and the major breakout we watched earlier in the year kicked on the recent BTC rally. But now BTC.d is showing some weakness to the market structure (red diagonal trendline).
There are no major patterns at this point to indicate a market structure change to BTC.D other than the market structure trend not holding. Because there aren’t any major patterns to follow, the support level at 52% is the best reliance we can find. If this level does not hold then it’s fair to expect a trend lower to at least 49%.
Note: Because this is BTC.d it could mean a lot of different trading scenarios, the key thing to note is that BTC.d trends often marks a major sentiment change in the market.
We’ve been watching BTC.d for some time and the major breakout we watched earlier in the year kicked on the recent BTC rally. But now BTC.d is showing some weakness to the market structure (red diagonal trendline).
There are no major patterns at this point to indicate a market structure change to BTC.D other than the market structure trend not holding. Because there aren’t any major patterns to follow, the support level at 52% is the best reliance we can find. If this level does not hold then it’s fair to expect a trend lower to at least 49%.
Note: Because this is BTC.d it could mean a lot of different trading scenarios, the key thing to note is that BTC.d trends often marks a major sentiment change in the market.