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Forwarded from 𝕍𝕀ℙ π•Šπ•”π•’π•π•‘π•šπ•Ÿπ•˜ π•Šπ•–π•€π•€π•šπ• π•Ÿπ•€ πŸ”

πŸ”₯ BTC UPDATE 17/08 – SHORT BIAS, WAIT FOR A BOUNCE TO ENTER

BTC is currently trading around 63.1K and has just made a strong bounce from the 62.7K–62.8K area. However, when looking at the M15 – M30 – H1 – H4 timeframes together, I still view this move as a technical rebound within the broader downtrend, rather than a confirmed reversal.

On H1 and H4, price is still trading below the medium- and long-term MA levels. In particular, the H4 MA200 remains above price and is sloping downward, indicating that sellers are still in control.
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