BTCUSDT more downside?
In this TA BTC forms pennant on 4h time frame under weekly resistance. No volume , no volatility , no interest, so seems like more downside will come. Also, Stochastic RSI indicates BTC is overbought.
On higher time frames (1D) it had touched the 2021 bull run momentum line. I think it will squeeze to the 24k region to grab liquidity (thinking it will be really fast) and then go back to the 2021 momentum zone.
Why 24k region?
In that zone, the price had a confluence on the 1D chart and went higher, so a bounce from here is more likely.
Seeing reversal at the beginning of June 🤞🏻
Colours explanation charts:
⚫️ – for 1h
🟡 – for 4h
🔵 – for 1D
🔴 – for weekly
🟣 – for monthly

