Bitcoin recently breaking from the range after observing a swing failure breakout higher has reached my confirmations to assert that the local BTC high has been printed and we are now on our way to now print the next swing low.
My invalidation for this idea is the level marked on the chart stating that this high cannot be broken. As long as we don’t close a higher timeframe candle above that high, then I am considering this idea valid. That provide sufficient room for BTC to bearishly retest this range as well.
The plan of action now is to begin looking for shorts in altcoins and find setups that are losing support levels or showing bearish patterns to enter short positions.
Bitcoin recently breaking from the range after observing a swing failure breakout higher has reached my confirmations to assert that the local BTC high has been printed and we are now on our way to now print the next swing low.
My invalidation for this idea is the level marked on the chart stating that this high cannot be broken. As long as we don’t close a higher timeframe candle above that high, then I am considering this idea valid. That provide sufficient room for BTC to bearishly retest this range as well.
The plan of action now is to begin looking for shorts in altcoins and find setups that are losing support levels or showing bearish patterns to enter short positions.