Bitcoin isn't looking that great at the moment. It can change in due time, but i'm leaning bearish at the moment.
This is why:
- BTC tested the heavy resistance (pink line), and it got rejected
- BTC touched descending triangle bottem many times.
- BTC created a bearisch triangle
- On the 4HR BTC is creating a bearflag inside the bearisch triangle
- Lower highs
- EMA 50 is declining
- 11k support is the only thing thats holding BTC up
- The daily Demark indicator is at a red number 3, witch means we can expect 6 more days of bearisch candles
To me it looks like the support at 11k won't hold, and we will go down one more time and bounce on the EMA 200 or bounce somewhere in that green box.
This is why:
- BTC tested the heavy resistance (pink line), and it got rejected
- BTC touched descending triangle bottem many times.
- BTC created a bearisch triangle
- On the 4HR BTC is creating a bearflag inside the bearisch triangle
- Lower highs
- EMA 50 is declining
- 11k support is the only thing thats holding BTC up
- The daily Demark indicator is at a red number 3, witch means we can expect 6 more days of bearisch candles
To me it looks like the support at 11k won't hold, and we will go down one more time and bounce on the EMA 200 or bounce somewhere in that green box.