The 4h timeframe shows a falling wedge, which could take all the way up to 19th of February to close around $24k. This of course doesn't mean BTC will for sure keep falling until then, but it is quite possible the price will continue to go down and sideways for several weeks.
I've seen some euphoric sentiments around the web with people saying 'Bitcoin bottomed out' or 'Bitcoin recovered'; this pattern would indicate otherwise. There will like be money to be made scalping the ups and downs, but there is no indication here that the downtrend is coming to an end anytime soon.
I've seen some euphoric sentiments around the web with people saying 'Bitcoin bottomed out' or 'Bitcoin recovered'; this pattern would indicate otherwise. There will like be money to be made scalping the ups and downs, but there is no indication here that the downtrend is coming to an end anytime soon.