Bullish OB failed. Now bearish OB in play
My previous high timeframe review explaining Bullish OB situation below.
Last week closed below bullish OB 31780-34260 zone which means that we should expect BTC to drop lower 24 / 20 / 14k .
Before that final collapse happen we may expect (or hope) for re-test of newly formed bearish OB at 29300-35400 range. As you can see its a pretty wide range and BTC price can grow up to the middle of it before going further down.
This chart is for 2H as I’d like you to see a good trendline which is still at bullish re-test. If bounce we will witness re-test of bearish OB sooner. Maybe even this week.
And this is Dollar Index chart. DXY been growing without any stops for 6 weeks. Its not a record, but the longer it grows the higher chances for correction. That gives a hope for crypto to recover before dumping lower. Higher timeframe targets for DXY are 106.5 (Dec’02) / 109.77 (Sep’02) / 111.9 (June’02).


