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BTC Technical Update: Still No Plans for Swing Longs 📊
It’s been about half a month since my last BTC chart update (see quoted tweet below), so here’s a quick rundown on my current technical bias for BTC.
As mentioned in yesterday’s update (x.com/market_beggar/status/196...…), maybe it’s the three-day US stock market break, but even with price sitting right at the STH-RP level, BTC just refuses to make a move.
Technically, BTC has printed a small stop-hunt structure on the lower timeframes. Normally, that could be enough to spark a local trend reversal and a bounce. But as marked in red on the chart, the low from this stop-hunt lines up almost exactly with the previous low on 07/05.