Trader: Bitcoin 'Ugly' Daily Candle May Push BTC Below $117K
I think Bitcoin's recent price action — marked by what many traders call an "ugly" daily candle — could be a warning sign that BTC is vulnerable to a downside move below $117K. The bearish daily candle formation on the Bitcoin chart has me cautious about near-term price momentum.
Given this chart setup, I'm watching for confirmation that Bitcoin's price may break lower, as the ugly candle increases the probability of further weakness in BTC. I'll be monitoring Bitcoin price action closely before adding exposure or re-entering long positions.
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