Though it show a weakness in price in present..
The Price action still within Ascending Triangle pattern area. as long the recent candle didnt close far below 50 EMA in 4 hour chart ( +- 7600 USD) there's a possible chance the price action could managed to bounce back within ascending triangle area.
Although it's very risky area to trade BTC/USD as in Daily chart, the price action is far from EMAs Line in daily chart which is not suprise also if the price could fall into one of this EMA line.
20 EMA (red) ; around 7200
50 EMA (blue) ; around 6400
200 EMA ( Purple) ; around 5600
MACD is also Begin to weaken in daily and 4 hour time chart
4 Hour Time Frame
Day Time Frame
please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.
The Price action still within Ascending Triangle pattern area. as long the recent candle didnt close far below 50 EMA in 4 hour chart ( +- 7600 USD) there's a possible chance the price action could managed to bounce back within ascending triangle area.
Although it's very risky area to trade BTC/USD as in Daily chart, the price action is far from EMAs Line in daily chart which is not suprise also if the price could fall into one of this EMA line.
20 EMA (red) ; around 7200
50 EMA (blue) ; around 6400
200 EMA ( Purple) ; around 5600
MACD is also Begin to weaken in daily and 4 hour time chart
4 Hour Time Frame
Day Time Frame
please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.
MACD looks good for a bullish momentum in 4 hour though i 1 day looks not so good...
i expect a target 9800 area if this manage to broke out and manage to close candle above 8300 conversely, breaking and candle closes below 7200 Area will be a sign of confirmation for double top in daily and it will come down hard into
6300 area (50 EMA)