Another Lower High in Progress⁉️
- Yello ladies and gentlemen🎁🎅
❄️Yesterday, Bitcoin bounced again from the top of our Support Zone at around $45k (the more we test this level, the weaker it gets).
❄️On Sunday, we saw another short to mid-term bearish weekly candle close, which is another sign that BTC will still be stuck in this slow downtrend.
❄️As shown in our chart below, we expect BTC to form another Lower High on a daily Time Frame. The price action should keep consolidating within this trend towards approx—$42k.
❄️We would need to see a recovery back above $53k to assume any bullish reversal without touching the bottom of our strong support zone first. This still remains to be the less probability scenario, which is why we are keeping our bearish bias and active off risk portfolio management in ParadiseFamilyVIP.
❄️It is pretty funny to watch CT always getting excited at the local tops. They are impatient to wait for a proper breakout and successful retest to confirm that we are resuming the uptrend. Instead, they are buying the resistances and then selling back at the bottoms, losing a lot of money in between.
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