BTC is still struggling below 34,000 resistance level and if we look from the technical point of view as in the attached, what we can see is a bullish falling wedge (yellow trend lines).
I am not a big fan of such patterns in a manipulated market like this but a peek into the volume bars also suggest that the downtrend in the 4 hour chart is coming to an end soon.
It seems that not many are interested in selling their bitcoins to the large interests in this price range and the number keeps declining. It further confirms the bullish falling.
The dashed trend line shows the trend we were expecting for some time, which was chopped down when we least expected such.
The large two volume bars immediately before the highlighted box along with their corresponding long red candles suggest an above average effort of short selling by smart money to hunt stop losses and push the price down, which seems to be successful and eventually formed the said falling wedge.
Finally as per my previous analysis and above, I believe there are no reasons to panic at all.
Not financial Advice, but analysis only.
More insight to the Crypto Market: https://kaalama.org/Kaalama-De....epDive-Crypto-Whale-
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