BTC Weekly

That long tail on the weekly means the buyers were excited to see Bitcoin price below that green level. But that doesn't necessarily mean that the downtrend is over. On the contrary, I'm looking at the current weekly bar rapidly approach the green. The most optimistic scenario this week for bulls is that price holds that level. Likely though, it's just going to chop up and down as it slowly tightens between the red and green lines. Worst case, we'll see the price retest one or multiple of the blue support levels. Gotta run.