💡Simple analysis $BTC

The two bullish signals that we paid attention to last week were both destroyed. Are the bulls going to be finished?

We first pay attention to the cycle above the daily level when we rise. The price breaks through the previous rebound high, which is a sign of strength and has the opportunity to go out of the large cycle trend continuation. But the subsequent trend is to fall back below the previous rebound high. Now from an objective perspective, the high is still going down and is still in the falling channel, so the flame of the daily strong line has been extinguished.

The 4H cycle maintained the rising channel last week, and under the strong big cycle, a resonance sign was obtained. Similarly, at present, the bullish situation of the 4H cycle is not optimistic, the channel is broken, and the previous low is broken.

So in just a few days, the expectation of going out of the trend continuation is rejected, and the current performance is weak, and there is a very high probability that the downward channel will continue to run.

In the current situation, I have not considered looking at more for the time being, and I may even tend to look for opportunities to look at shorts.

When the market is strong, I am firmly bullish. When the strength is destroyed and weakness appears, I run faster than anyone else. This is how trading is. Don't act on impulse, don't be stubborn, and always keep an objective view of the market.