#BTC WEEKLY CANDLE CLOSED 🧐 Is the Market still #bullish ?

After a tiring week, Bitcoin has shown a new face!

1. Weekly timeframe (W1):
- $BTC pulled back quite strongly.
- The candlestick has a medium-sized body with long shadows.

(Stochastics is still above 80%. Volume has not shown any abnormality.
⏩ The overall structure still supports the bullish wave.

2. Daily timeframe (D1):

- The ABC wave structure is forming clearly!
- With a price range oscillating between $59k and $73k.

- The two Saturday and Sunday candles are forming a bullish reversal pattern, with the mother candle being red and the child candle being green. This pattern often forms a double-bottom formation when combined with a price test in the range of $58k - $62k.

- The golden Stochastic line is trending upwards, but the red Stochastic line is still below it, indicating that the upward momentum is not yet strong.

- Volume has not shown any significant increase, indicating that selling pressure is not too high. This means that large funds and institutions are still holding onto BTC hasn't been any significant selling action. The game continues!

⏩ Conclusion:

#BTC NEEDS 1-2 WEEKS TO CONSOLIDATE AROUND THE $60k - $70k PRICE RANGE TO BUILD PSYCHOLOGICAL SUPPORT BEFORE CONTINUING TO RISE! BTC IS STILL IN A BULLISH WAVE, WITH THE NEXT TARGET BEING $85k - $90k

3. Psychology:

- There is a truth that those who held #Altcoins👀🚀 from the $40k BTC range experienced mild profits when BTC reached $75k, but suffered heavy losses when BTC dropped back to $59k.

- The game for small fish is never easy!

😀There are too many choices among 2.2 million coins.#TOTAL3 is still small and growing slowly. Meanwhile, the number of projects is too large, leading to fragmented capital flows.

Small fish often have short-term thinking:

- They take profits quickly.

- They hold onto losing positions heavily.

- They are prone to panic selling, which often results in unfavorable price movements.

There is a truth that when the game is created by the big players, the price movement becomes more sustainable and stable!