📊 Technical Analysis

▪️BTC/USDT Timeframe D1

At the beginning of the week,#BTChad a pump to the resistance zone of $64.4xx but then retreated and closed close to the lower candle shadow, forming a Bearish Pinbar candle, combined with a decrease in buying volume and an increase in selling volume, showing that the Bears are still in control of the market.

This is a setup that shows that the price increase has slowed down and shows signs of reversal, however, there will be another push to test resistance, then at least a Double Top or Head & Shoulder Pattern will appear, then we can confirm that the price has reversed.

Although pump and dump phases continuously appear, the chart structure of#BTCremains unchanged, the price runs in a wide Trading Range at the peak.

▪️BTC/USDT Timeframe H4

We temporarily have a small support at $61,700 - which is also the neckline if#BTCfails to break $62,4xx and returns. At that time, the head and shoulders pattern will officially confirm its formation.

The main plan is to wait for short at the resistance zone above, and when the price returns to retest the neckline. We will go long when a bullish reversal pattern appears on TF H1 at the support zone of $617xx and $60k.

▪️Marks to note: 55500 - 57500 - 59200 - 60000 - 61700 - 62400 - 64100 - 64700 - 68000

* The above is purely personal opinion, not investment advice!
$BTC #Vietnamcryptotrading