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Bitcoin is bearish.

WHY?

why are we going to move lower?

very simple.

BTC WEEKLY ANALYSIS

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This is the technical “level to level” aspect of it - BTC attempted to leave that weekly high but sellers were dominant and swiftly took it back under, that is one bearish aspect of it, how do I confirm such a thing? OBV Volume!! so lets dive into that

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For starters

let's dive back into the 2-week old profiles value area low

the whole concept of the value area is simple

70% of all trades in a given time period occurred there - meaning all institutional interest occurred there within that area.

when a stock/crypto enter a value area there is a 70-80% chance we swing into the end of the value area meaning in the case of bitcoin….

Bitcoin entering the value area of the 2-week old profile should have gotten us something like this..

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But since we are in a major downtrend, I am looking to trade against lower time frame uptrends.

since we have actually rejected this and went out of the value area, where do I look next? The previous week's volume profile for more clearance on the direction.

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let's get this straight

we enter a 2-week-old profile value area, reject it, fall lower back into the previous week's value area, and retest it, the only HIGHLY likely outcome from here is us rotating down to the value area low, which is the $80,000 mark

with that, it makes the trade to the downside much clearer and more prominent to take - sidenote, I am only short solana at the moment with a 134.95 avg.

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ANYWAYS! Back to bitcoin what should we expect?

what does the future hold?

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Green area - Low risk high reward for shorts Red area 75% take profit with stops being moved to 83k

Since we have walked back into the value area after 3 bearish moves which are

  1. Rejection from 2-week old value area
  2. retracement back into the previous week's value area and testing it
  3. Break down under the previous weekly high

once bitcoin reaches $80,900 this is when a re-evaluation and new analysis comes since I am not a magician I highly suspect us to break lower - especially on eth and sol.