Can bitcoin go down ? It depends on US stock market . I see Topping tail on S&P 500.
Bro the story is that this candle with the long upper wick is a topping tail means buyers pushed above 6750 but sellers dumped it back down and it closed near 6720
This usually happens when market is tired near the top
If the next daily candle closes red and below 6700 that’s confirmation the short term top is in
Then first support will be near 6670 and if that breaks price can slide to 6600
But if tomorrow or next session gives a green candle that closes above 6750 this whole topping tail becomes a fake-out and market can shoot up to 6800 plus
Color rule is simple
Red candle means sellers in control
Green candle means buyers took it back
If another red candle closes below this one that confirms the reversal
If a green candle closes above the topping tail high then sellers got trapped and buyers win again
In short the market is standing at a decision point
Close below 6700 means correction close above 6750 means trap busted and rally resumes.
