🪙 Coin: BTC
⏰ Time Frame: 1H
📊 Can Bitcoin make a bearish leg from these levels?
In my view, yes there's a decent chance. 👇
📉 The first reason is the strength of the sellers around the most recent swing low.
If you look closely, buyers weren't able to push the price away from the low as strongly as expected, which suggests short-term weakness on the buying side.
⚠️ However, this doesn't mean I'm expecting a major sell-off or a full trend reversal.
At this stage, I'm only talking about a short-term bearish leg, nothing more.
Why do I have this view?
Remember the daily Fair Value Gap (FVG) on USDT Dominance, along with the 50% retracement of the previous bullish leg?
📊 USDT Dominance still hasn't reached that zone or reacted to it.
Because of that, I believe there's still a possibility that USDT Dominance makes one more move into that area, which could create short-term pressure across the crypto market.
For now, the best approach is to avoid rushing into positions and instead wait for price to react at key levels and look for further confirmation before making any decisions.
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