Technical analysis by peterbhc about Symbol BTC: Buy recommendation (7/8/2023)

BTC Bear Trap? I am watching for a test below the sign of weakness. I believe it will be an attempt to trap and bait shorts to complete the wyckoff distribution pattern. Wait for the confirmation of a retest to see if BTC will invalidate the pattern or continue descending. we will want to see buyers and volume to push the price higher to around 38-41K. I favor the bullish scenario and will look to buy the lower low in the 1H. Good Luck