Just as an overview of some weekly supports and current ascending triangle (for this BTC can't fail here) together with current OB support.
Wyckoff schematic was already, I only drew on top of it — doesn't mean it will play, but better be safe.
Btw, I remain bullish (because it's what it is on a technical level (TA) — BTC haven't made a lower low (LL - bearish).
Current price printed a higher low (HL - bullish), thus, it's still a solid uptrend.
Current low (HL) remains on the blue box, which is actually support and a trouble zone, a lower low (bearish), would only be settled below 29.2k but it's right here it becomes problematic since losing this ground (44k — 42k) means potential and huge downside triggering Wyckoff distribution on final phase (dump), or be considered a simple double top too, whatever, either would be correct.
PS: Ascending Triangle could be enlarged with a candle down to 44k and still remain valid, keep that in mind, often price enlarge patterns to HTF.
Wyckoff schematic was already, I only drew on top of it — doesn't mean it will play, but better be safe.
Btw, I remain bullish (because it's what it is on a technical level (TA) — BTC haven't made a lower low (LL - bearish).
Current price printed a higher low (HL - bullish), thus, it's still a solid uptrend.
Current low (HL) remains on the blue box, which is actually support and a trouble zone, a lower low (bearish), would only be settled below 29.2k but it's right here it becomes problematic since losing this ground (44k — 42k) means potential and huge downside triggering Wyckoff distribution on final phase (dump), or be considered a simple double top too, whatever, either would be correct.
PS: Ascending Triangle could be enlarged with a candle down to 44k and still remain valid, keep that in mind, often price enlarge patterns to HTF.
