BTCUSDT OUTSIDE CANDLE

BTCUSD price was in a recent rally and a bearish outside candle pattern is formed which suggests that the bears are trying to change the direction of the market trend or many BTCUSDT holders are taking profit causing high volatility in the market .The market showed a 1B liquidation of long position with high leverage only in a single candle.

We also have inside candle which also indicate a possible trend reversal or pullback.

If the daily low is broken expect a deeper pullback

Above 69000 the trend will probably continue but one should be carful of sudden price pullbacks and volatility especially that we have multiple FVG and OB that are not balanced .

Good LUck

Komentar:

price made a liquidity sweep on daily candle and started its pullback instead of continuing the trend . this could be a minor pullback but one should be careful.

Good LUck