Daily time frame: Bullish structure broken, series of lower highs + lower lows lost with daily support zone | Bulls need to get back up ASAP
Weekly timeframe: Captured by EMA 50 + Wide falling wedge - chart has bullish potential | It would be nice to see the daily structure turn bullish at first and the entire economy recover (by the way, many are blaming crypto for this fall while TradFi is the leading narrative here. TradFi Bullish = Crypto Bullish)
Monthly time frame: The current picture looks scary as we have broken below the monthly support area (previous major resistance area) which looks like a distribution. However, things may turn around for the bulls if there is a close above the monthly support, it will just be a stop chase (fool). The whole month is ahead of us and we have a job to do!
📍My personal plan regarding#BTCis to start DCA in case of a medium term downtrend - I see this as a great opportunity! Only local trades are now allowed with no significant leverage. ⚠️Mid-term trading is now prohibited until things settle down#solana#Binance#bitcoin#BTC $BTC $ETH $BNB
