It’s hard to tell if btc could drop down all the way to 74k without a LH SFP.
Looking at it LTF (15min zoomed in) I think: no this can’t happen, no SFP at highs and only consolidation to the left —–> no SFP = weak, no MSB = weak, consolidation = strong ——> impossible.
But on the other hand I’m thinking: yes but it’s supposed to be the HTF HL and current lowest low is wack, would the surprise breakdown to 74k not just be the hint that price will SFP the 74k lowest low and then the lows will be in?
(text below is inverted chart perspective)
And what about the downtrend: INVERT the chart and I would say: yes the downtrend has weakened as price broke below the structure, but is this strong enough to suddenly just break through it all? Simply looking at it: I don’t find the structure which it broke down under to be THAT outstanding and another HL here would just be the expected move BUT I don’t think price will breakout further as it now did break below that structure which has definitely weakened the uptrend. Also price has now been seriously consolidating making space (due to this horizontality which makes structure of downmove weaker of resistance) for a fast upmove to the highest high.
Yes, the 30min zoomed out inverted is king: all the way zoomed in on the 15min you lose track of the bigger picture and the bigger picture you get by looking at the 30min zoomed out.
I should make use of the inverted chart more often as I’m way better in reading short PA then long PA.
Spot buys at 82k cancelled and moved to lowest low 74k for the time being (at the least waiting for what will happen LTF: LH SFP or not?)