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Bitcoin Price Update – BTC Consolidation Still Bearish



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Hey guys, this is the daily chart of BTC i've marked up . So for the coming days , i'm expecting either of these two scenarios to play out .

Ideally , i would like the scenario 1 to play out because i feel on the HTF order flow is still bearish .

Scenario 1 would be where price takes out PWH ( 21480) , mitigates the daily OB and gives a confirmation on LTF to short . we can potentially target the weekly fvg lying below as our first target then see how price holds around 19700- 19900 area .

Scenario 2 would be where price falls down to the weekly fvg below and gives a long confirmation in the LTF , so we could enter longs.

Keep in mind a lot of alts have pumped really hard and this week we might get to see a bit of corrections happening as most of the tokens have already reached HTF short POI's .

This post is based on this twitter thread.


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