#bitcoin just a retrace idea but prepare for worst Y/N ?
I have boxed in the price ranges before the bar that touched the (in both examples the market was trying to push higher but failed). Best case scenario is that the market is developing a low (a serious if broken at a later date).
I’ve then used the and for comparing price action. I have compared two periods of price action where both the and look simillar. I have drawn boxes in the for comparison study. The yellow arrows could indicate how close this price drop could be to hitting bottom.
Todays open of $6,715.2 will a good point for future review if the day bar closes above, as yesterday’s was red but the difference between the and signal i.e. the histogram grew – a divergence. For now bull’s are loosing ground.
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.