Bearish on BTC until strength shown

Not a big fan of the price action around the pink line. Exited position at 60k and waiting for strength to be shown above the pink line. Interested to see where the day ends in 2 hours.

I was hoping for bounce at 60k yesterday and not a falling under for it to only slide downwards.

As always, the schiff pitchfork i use has the values listed in the linked idea. If you like it, feel free to use it.

הערה:

Pretty clear rejection. Im not sure about the next level. Usually when pink line fails the next target is the red line or the center of the pitchfork. This has been the first time, the whole trend upwards, that there has been a failure after passing the pink trend line. Not sure what it means, but with rates looking how they do, it is possible that this is all just short term uncertainty due to the need for direction from the fed. I am still looking forward to seeing what happens during the fomc meeting this Wednesday for any real ability to determine a longer term target.

10y treasury yield